I get that there are delays and behind the scenes, dealing with late suppliers, the city authorities being difficult, but I thought for sure I would be further along than this. 

Overwhelmingly though, the weather and weather related things were enough to offset the negatives.So, I figure a much more interesting question would be Why do people live in New York City?

In Metro Detroit, and I'd think in most Midwest cities, investors really have two options:1) Buy Class B and either put more down to cashflow at closing or deal with 1-3 years of negative cashflow until rents increase.

The other option for value add is to do it yourself by approaching potential sellers directly via the phone, snail mail, or knocking on doors on main street USA.

Nassau County 2-4 family properties outperformed all other New York City Metro Counties in 2024. 

Today's Americans want to live on Sunset Strip and pay Main Street USA prices.

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

I'm planning to put in my first offer on my first rental on a SFH in Kansas City in the next day or two.$140k offer8% interest rate20% down8% management fee5% vacancy5% maintenance 5% cap exI haven't gotten insurance costs yet but it's been suggested that I plan for $2k per year. 

Investors might want to start exploring smaller cities or less-saturated markets poised for population and business growth.

Quote from @Ryan Brown: Your city has noise ordinances.