While waterfront properties often command higher prices, higher potential rental income, and higher appreciation rates through time, they also come with significantly higher upfront costs and huge maintenance expenses.

Local markets are impacted more strongly by local factors than national ones such as changes in interest rates. 2.

But even those areas still suffer from the crushing property tax rate, and the other issues the city has.

However, the home is in an A-class area that is rapidly growing and could prove profitable once the property could be refinanced at a lower rate.

This house has an FHA loan that I can take over and all in it'll be 2k/month. however, the amount left on loan is 310,000 at a 2.75% rate. so, if I did 590,000-310,000 I would have to come up with 280,000.

Yet, I barely survive thanks only to the pandemic era low interest rates and tax abatement.

In my opinion flipping is rough right now with 7% interest rates.

I mostly want to understand how do I go about figuring out the demand / vacancy rates for MTR before investing in furniture etc on my property.

We don't offer HELOCs on investment property because of the risk, rates would be well above 10% if not higher. 

You will need to learn about the local laws, advertise, background check applicants, meet them for showings, answer questions, get a good lease, answer the phone at any time, arrange for repairs, do inspections, manage finances, manage an LLC, and more.