I've attached the median list price for Detroit here as well to compare to something like Cincinnati. 

Sadly it is always overvalued for the locals as well.For context: the same comparable duplex a client purchased for $750k last february 2023 in Lil Havana is now asking $925k.

Need to be sure you include the "unknown budget" and never take the optimistic approach as it is better to have money left at the end than writing more and more checks that were unplanned for.Again, if you can walk through an actual property and compare notes with someone that does it in your area (key factor), you will be way ahead of what a generic book can give you.

Today is very different as it is all about the management (and not appreciation) compared to past where management could suck but you still had superior apprecation.This will not crash housing of course but all those "creative" deals where people are paying more than market value are going to realize they have no exit. 

With good credit and a relatively low LTV, they may price comparably. 

Not as many compared to coastal towns after a Hurricane, but still some.

CA has inverse values compared to most of the nation..

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

Looking to invest with Praxis, but wanting to compare their current offering with a couple more. 

Since they can't do each property individually, they use comparable sales to make broad generalizations to determine percent changes.