I’ve seen firsthand how being plugged into a strong local network can help you find off-market deals or avoid costly repairs.PS: Did you know Cleveland’s real estate market has some of the most affordable properties compared to other major metros in the US?

Having said that, I renewed my excellent tenants with increases to make sure I’m as close to market as I can be -knowing that future increases will be limited.

If you find a local realtor and loan officer who specializes in investing in your area, start having conversations to get up to speed on your market.

However, whatever route you go make sure you hire an independent agent rather than captive so they can shop the entire market for you! 

I understand these numbers can vary depending on financing, market conditions, and other factors, so I’d appreciate any insights based on different scenarios:All-Cash Deal: If this were an all-cash transaction, what multiples or IRR would you consider acceptable or ideal?

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

They also offer a marketing option and outsources to another provider for bookkeeping.I love it, however, it’s missing one key thing for me.

Paying too much initially can significantly impact overall returns, emphasizing the need for thorough due diligence and possibly more stringent financial analysis before purchasing.For future investments, consider leveraging local market knowledge further and refining your property evaluation techniques.

Who's your market? 

Headed into a new market and loving learning the way things go.