Not ideal, but I read looking for the key points of the book.

And ideally one of them would be within driving distance.

Purchase Price (ideally): $46,000INCOME: $1,000/mo ($500/unit)EXPENSES Vacancy Loss (@8% or 1mo/yr): $80/moCap-Ex (@10%): $100/moProp Mgmt (@10%): $100/moOngoing Repairs (@10%): $100/moProp Taxes: $60/moInsurance (guesstimate, will get quote soon): $75/moTOTAL EXPENSES: $515FINANCING: 20% down, 30 year fixed, 4.70% interest rate.  

Ideally, I will be able to find a Partner who would be willing to put the additional funds needed to complete the project, when it is located.  

I have recently started a property management company with a colleague and we have had a stroke of luck where a client was asking us to try and find him a commercial property that is of significant worth.

Ideally 3 plus multi-family units or small apartment blocks.Can anyone recommend areas which they believe have the most short to medium term potential for rental growth and capital appreciation.

I deal with a lot of other lien and title issues and find that it's better not to give the property address until I've closed. 

If you live in the selected market, even better (and ideal), but don't let your where you reside dictate your purchase.

After research and plugging in all the numbers I have found that this property,( priced for 152000, closed at 168000 with additional improvement from the builder - projected gross rent of between 1295-1400) has a less than ideal cap rate.

This thread just goes to prove different strokes for different folks.