If it's a fixer upper you would account for the rehab and purchase price then compare against the ARV.

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Where I got into my first big learning curve was when I bought my 8 unit, both in the increase in number of tenants and because it was a fixer upper with inherited tenants that had also been neglected and mismanaged for years.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

All the cheap properties are MAJOR fixer-uppers with no Rent Zestimates - probably because there are not enough rental data points.This one is priced at $135k with only $1,152 Rent Zestimate.

So I bought this fixer upper for 65k, had a low monthly mortgage, used the extra money to rehab out of pocket for the next three years.

Another great option is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), where you buy a fixer-upper, renovate it, rent it out, and refinance to pull your cash back for the next deal, and this is a good route because most private lenders can go higher LTV than on a rental loan! 

Nobody knows the ins and outs of this home better than you which gives you an upper hand over any management company.  

And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?