I prefer markets that experience mild winters to eliminate the added costs brutal winters can bring. 

Variable cost and CapEx are where I see most investors make errors on their Pro Forma.  

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

What's the location, purchase price, expected Reno cost, ARV, etc.?  

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

Especially for the cost.

Cost vs.

Once you pay realtor fees, closing costs, sellers want 10k for points and concessions.

Am I more likely to be able to add $50k or $100k of value above cost in a high Cost RE market or a low cost RE market?