Louis, and Cleveland, are known for their affordability and relatively low property prices compared to coastal cities.

So...My pet peeve is comparing a single rental property with either index funds and/or a HYSA... 

Property taxes and insurance are typically the two biggest recurring costs.Below is an overhead cost comparison of three states with no state income tax.Sources for insurance and property taxes: Insurance - ValuePenguin, State Property Tax Rates - Rocket Mortgage.To demonstrate the impact of taxes and insurance on net income, I compared the overhead costs of a $400,000 property in these three states.

But, some folks find it a bit costly compared to others. 

This will allow you to put down a 3-5% down payment, compared to 25% if you were to rent out both units.

You may also want to compare the HELOAN with other loans you could get such as a cashout refinance.

Do one task at a time in each app so you can compare apples to apples.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.

Compare my plumber to another "hot shot" developer I know who ended up over extending himself and filed bankruptcy, maybe the plumbers are doing better than that fast growing developer...  

Although I am not in your market, I would say this could be worth it if the comparable sales support it.

You can theoretically cash flow better if the stars align with a section 8 rental in North Philadelphia compared to a better situated property.