Generally the larger you go, the more your purchase price will be based on the financials versus the comps, and you tend to have more control over the financial operations of your property than you do the sale price of other people's properties. 

But that is what investing is all about, the risk versus return.

Take for instance, I bought a house in Tampa in 2015 versus what it would take to buy that same house now:2015: $65k purchase + $25k rehab = $90k all in; $1125 rent; 1.3% Rent to Value2020: Appraised for $140k a few months ago; market rent $1250; 0.9% Rent to ValueSo if you are buying in Florida today, it's probably more because you would like the continued upward trajectory of the state's home values more so than maximizing the immediate cash on cash return.

@David Shapira @Lien Vuong @Rob Ferdinand A great House Hack is the FHA 203k (Renovation loan) because you can qualify off the projected rent versus the current rent. 

At the end of 2020, I think I'll have the finances ready to make my first purchase and am interested in the following areas: Elmhurst, Smith Hill, North Providence, Federal Hill and Pawtucket (also really love the East Side, but seems to be too expensive and more geared to an owner operator who is trying to have someone pay half their mortgage versus someone looking to cash flow). 

@Jordan Crockettturnkey properties are ones that are fully renovated versus properties that require repair/updating. 

Have you compared the cost of getting separate metering versus leaving it as is?

In my humble opinion, we shouldn't look at one versus the other but rather at one in addition to the other.

Compare your count from 2/3 versus the 1,800 units. 

If you want to keep growing need to do an assessment of which asset to sell to buy a better asset versus getting an equity partner