Are you located in 96797 as indicated on your profile?

Currently, Syracuse multi-family properties are yielding a 10 cap rate, indicating a strong investment opportunity, while in Binghamton, large multi-family listings average at or below a 7 cap rate.

@Farzan SetayeshNot a local investor, but here is a data driven look at the market conditions in McAllen TexasTwo of the most important market performance indicators, population and median home values, have been increasing steadily for the past decade   Rents have followed a similar trend The chart to the right shows median household incomes over time, which have also been increasing. 

What key indicators would you recommend for identifying these promising neighborhoods?

Rent control is a strong indicator of an intrusive government.City Selection ProcessBegin by evaluating cities with a metro population of more than one million.

Pay attention to the loan-to-value ratio; a lower ratio can reduce risk by indicating more borrower equity in the property.Building relationships with lenders is essential.

I do income potential reviews for clients all the time, every market has subtle differences but these are generally good indicators. 

The fact that you are thinking about it may indicate the property is more stressful than it's worth.

Also, it’s interesting to note that not maintaining corporate “formalities” is one indication of “disregard”.  

Some will indicate risk margins - even though flips like the ones in your area aren't impossible, on your proposition the risk factor would be through the roof.