The level of competition here has increased in western WA.  

I would tend to look in states that are mid-western and southern in location.

I had run a property management company in Western PA for about a year and had gotten to know the basics of the rental business, and more importantly, met some very skilled tradesmen.  

I find many of the "better" neighborhoods price points, Such as New Scotland, Upper Western Ave, etc. the numbers hardly work if you’re keeping a flat to yourself unless you’re renting out additional rooms in your unit.

He began buying land in western Wise County in 1870.

New to the REI community and looking to get some great guidance and advice from the seasoned vets and learn as much as I can.Have been doing some initial research into Multi-family, buy-and-hold, (>,=2 units) in the Chicagoland area (mainly western suburbs, Brookfield, LaGrange, Downers Grove, Wheaton, and the like) and found some units with potential.Here's my current question:I've found a property that I believe has some potential.

I have also tried new western acquisitions and other wholesalers, but the whole "cash buyers only" and "hard money lender needed at ridiculous rates" and "the market is so hot, you won't have time for proper inspection" and "awesome 3/2 in Plano for 150k, ARV 450K" is a little too much for me to handle...Best part was an agent sending me CMA for a property that were all cheaper/sq ft on a property I inquired about, and said it was priced appropriately.

Tommy’s is attached to the western side of Oakland Nursery.

Properties advertised as "University Circle / Case Western area" when they're technically sort of close by but in complete warzones.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?