You could alternatively hold the property for as long as is necessary to break even but when you consider the time value of money and how money today has a greater value than money in the future "breaking even" in a few years may actually be losing money because you've lost out on opportunities to do things with that money in the meantime as well as you've lost money to inflation. 

If you are lucky, it will cover all your costs related to the property (bank rate etc.).In Germany, real estate is a long term investment where usually the biggest gains (depending on region) come from appreciation.

Hello Maya, I highly recommend connecting with @Jorge Vazquez, since he is a long time investor in Tampa and broker. 

Hi Yu Jin,Dayton is a step up from Toledo but also comes with a step up in price.The numbers make sense in many Ohio cities.You make money when you buy and not when you sell.So look for off market (We do a lot of direct to seller), negotiate hard, buy with cash and buy quickly.Great deals don't last so you need to know the numbers very well in your target market.I've flipped hundreds of properties in Toledo since 2014 and am glad to say that I know the market like my back pocket.All I need is the address, scope of work and how much I can buy it for.Quick access to AREIS, the MLS to run comps and "ka ching".I know if it's a deal or not.Immerse yourself in the market and become a market expert on the numbers.Nothing comes easy mate and all good things take time.If you are looking to build a rental portfolio in Ohio you have to build a big one.Buying 1 or 2 properties and expecting a significant impact to your bottom line from a net-worth or cashflow standpoint isn't worth the risk IMO.In all sub $100,000 markets, it's important to build a large portfolio as there is a high likelihood that you will have repairs and vacancy on 1 or 2 properties at any given moment.Just my opinion and all the best.

These lists come up all the time with long term top of the market, etc etc and it changes every 6 months.

I'm giving myself a year to learn all I can and save up a down payment for my first long-term rental in my local area.

One last bit of info.

I will not be able to do a cashout refi with a conventional lender for 12 months, and although Fannie and Freddie require a 12 month seasoning period for cashout refi's, it seems most convetional lenders, even in a straight out refinance (with no cash out) require 12 months as a policy.Does anyone have any recommendations for long term lenders that will balloon me out on a long term loan?

They cheated you out of rent for the last year, proven by the fact that they immediately offered to pay you more for a renewal.4.

This one was special because it was completed with a new team of investors and we have already placed 10+ deals under contract in the last 2 months.