If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

Quote from @David Epstein: I everyone, I know this is an older thread, but I'm also now getting into properties in the Albany area and am in need of a CPA with real estate tax knowledge for advance planning.

As I settle into the new year with my game plan Im curious to know what Margins investors are looking to receive in this market.

Still delays or below plan progress.

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

I have always had an interest in flipping houses because I get really excited to see run-down houses, walk through them, and come up with a design plan.

I’m trying to keep things moving, but this $20K requirement is throwing a wrench in my plans.

Would love to hear form some Multi-Family owners/operators in these markets about pros/cons and specifically neighborhoods to avoid.My wife and I have been to Columbia SC many times and, while we have never been to Little Rock Arkansas, we plan on going in Late March! 

With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

Have you considered investing in any other markets and how you plan to manage the property?