Personally, I wouldn’t invest in a market where appreciation averages only 2%.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3.

While I think I might have paid slightly above the average price, I’m happy with the installation and impressed with how quickly the installers resolved the issue.

HUD targets average rents for an area, so just like average school grades, this typically translates to Class C property rents.In our Metro Detroit market, the MAJORITY of the claims about getting higher than market rents can be traced to a Class D Neighborhood/Property. 

.: What is the average conversion rate for cold calling using software like PropStream, specifically targeting probate, foreclosure, or tax delinquency leads?

It's been a rental for the past 4+ years and makes on average $400-$600/mth Lessons learned?

For what it's worth, I tried to run your numbers using the proforma I use with my CFO clients and I'm getting an IRR (average annual return) of nearly 23% (see page 2): Kalamazoo Properties

This seems to be breaking down new construction and is a national average so kind of hard to read into this what it means in general but I would not expect a 665k new construction house to be my target for a rental property.