If not you might be stuck with the work and the commitment to doing it since the city would be the ruling party.

I sent an email to the city and received a long response.

I am not a lender, I'm an investor that typically buys major city-center multifamily. 

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?

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

Absent them, risk is controllable over time.I self manage a SFH in the Bay Area in a very pro-tenant city (some cities are a little less pro-tenant than others).

I don't know CLE per se (I'm based in STL), but I know the financial side of gut rehabs in urban centers of big cities.

I would like to know how to read the market a lot better and learn how I can see wether or not a certain city is thriving or not, if where I purchase the duplex is thriving I'll just settle there and target SFH's there instead of moving out of state.  

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

My previous renters were relocations - either had sold their home and looking to buy another (low inventory so takes a while to find a home to buy) or moving here from another city and didn't know yet what neighborhood they want to be in, or alse building a home and need a place to live until it's completed.