@Scott VaethIf you live in part of the home and rent out rooms, you might be able to keep the lower 4% owner-occupied rate.Instead of a long-term rental that barely covers half the mortgage, could you do a rent-by-the-room model or target traveling professionals to increase cash flow?

Even a small increase could make a difference in cash flow.

(If you have not already) read enough books on real estate to increase your knowledge base.

Relative AffordabilityDespite recent price increases, Buffalo’s housing market remains more affordable compared to many other U.S. metros.

I think it will increase down the road, but right now the town is a bit on the past.

Largely, the appreciation in housing prices is coming from both new migrants and investors coming from the East (GTA) as well as international countries (predominately from the middle east).We are also seeing drastic increases in the rental rates which in turn are pushing investment property prices up as well.

It's rarely talked about, it seems.I looked at some listing in the Research Triangle in North Carolina but the cash flow doesn't seem great, especially there could be a major assessed value/property tax increase as there was a lag of 4 years in NC.

We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc..... 

Longer Tenure in HomesData from the National Association of Realtors (NAR) shows people are staying in their homes for a decade (see graph below):This increased tenure means homeowners benefit even more from home values growing over time.

., Richmond, and Detroit led rent increases, while Austin and Raleigh saw year-over-year declines due to high supply.