This area is just outside of a neighborhood that has seen explosive growth and development is already starting to happen.Step 1 - UnderwritingI am a huge fan of Adventures in CRE and am using their value add apartment model. 

The pros are that I have now gained 5 years of equity not including appreciation, the HOA covers most management tasks, and it gave me the confidence to get my second deal.

I know the 1% rule is out of the question, but I’m okay with a few years without cash flow since the equity growth here has been crazy.  

@Evan Davis Vetting buyers is a long and time consuming task.

Thy key to smoothly scaling your business is nailing down all of these.Below I am going to break down what its like to hire in the early days when your doing just a few deals a month - these hires can be crucial to the success and growth of your business.

I've been looking at growth rates, etc of towns but am wondering if there's a trick to discovering that next hot market (besides foreseeing the future). 

Opening wallks means demo, insulation, drywall, mudding, texture, painting,... tasks which adds a lot to the overall project cost.Flooring, painting, cabinets, light fixtures are all pretty straight forward

It appears that a lot of it is due to the influx in people from out of state, as well as good job growth with the companies mentioned. 

I’d consider renovating a deal up to two hours drive away, but all neighbour city’s/towns are what I would consider lower income areas with little to no growth or Airbnb potential.

I recommend Columbus lots of job opportunities and population growth.