In most cases the bank will want 20% down so your mortgage will be around $280k and over 20 years thats around $1800 a month off the top of my head. plus account for a 6% vacancy rate and $2400 a year in repairs and calculate how much the HOA fees are and insurance and the real estate taxes.

I also figured if I get the right tenant I can negotiate lower rent for certain things like lawn care and such but again these are just thoughts running through my head at the moment. 

I don't mean to sound confrontational, but Peter is clearly looking for information on how to buy his first house in a new market, and to fill his head with delusions of grandeur about 20 caps will pretty much have him spinning his wheels and never pulling the trigger on anything.Peter, there are lots of nice up-and-coming areas in Tampa (there are also some bad areas to stay out of, namely Sulphur Springs and anything around North Howard Ave by Downtown).

It is way easier to get back on the path that you know so well and not cut through the brush and blaze a new trail, but the problem is that although it is easier to go back to what ya know, that path leads to the same unfulfilling results they have always received.Just a few of my thoughts from the top of my head.  

Meghan,I insure several 2 unit Condo Associations.  

I know we can get some market research like state-wise from the Realtors association (like this one https://www.njrealtor.com/research/), but if I want to go deeper and understand the market in a county or even in a specific city, where should I go?

Since my first double in 1999, I have gotten my NYS Associate Broker's License & acquired a few more doubles as rentals & done a few flips as well. 

Also, I realize there is a lot of cost associated with sell and buy of another property that would cut into profits, but is the any other benefits. 

I have seen firsthand of bidders bidding on 2nd liens and homeowner association liens on properties that have a 1st mortgage and on partitions of a property. 

I'm also considering Plano, TX and it's surrounding cities since a few of our companies here in the Bay Area are heading that way. might be a good opportunity to invest.