Just be sure to factor in interest rates and fees when running your numbers.Know Your Numbers – Accurately estimate rehab costs, holding costs, and selling expenses.

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.

Lets say your rate is 4%.

No issues and tenants are renewing.That indicates tenants were paying below market rates.If the market rate for a 2-bed/1-bath apartment is $1,000 without utilities included, then he should adjust his rate to $1,100 because it includes $100 in utility cost.

Rents continue to climb as well but likely not enough to keep up with increasing monthly mortgage payments when considering interest rates and soaring property values.There are 2 main schools of thought when considering investing in an expensive market like Long Island.- Robert Kiyosaki, Grant Cardone, and similar thinkers believe its best to invest in markets with higher cashflow while renting where you want to live.

My big question is around the occupancy rate.

The key is to analyze occupancy rates, seasonal fluctuations, and what type of properties perform best.

Unfortunately this market doesn’t appreciate that quickly, but I possibly may do that in 2-3 years depending on the market, debt pay down and the interest rates at that time. 

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

In this market, with interest rates and prices at where they are, they're usually not viable (i.e. don't cash flow).