I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

Cost to build is $350K (I am managing it all myself and calling in favors around the city to get low rates on materials and labor).

I have a client in Kansas City, MO that had to make the EXACT same decision a couple of years ago.

What city is the property in?

I'm seeing lots of my clients have success currently with auctions in Cecil County and Baltimore City. 

I'm in Columbia, South Carolina by the way and no I'm looking to build in another city but in South Carolina.

Their home has been vacant for over 4 years and is uninhabitable as the city water dept cut off service due to a faulty septic system spilling sewage in both our backyards.

I dove into real estate as a college student, working in New York City as a real estate agent during the summers.

If that isn't satisfactory speaking at a city counsel meeting about the subject would also seem appropriate. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!