Start by exploring books, YouTube channels, market research, and analyzing trends in neighborhoods.

You want a property that has the highest probability of maxing out on appreciation.Once done, you would want to explore the options below to maximize your rental income:- STR- MTR- Rent by RoomYou should go into this understanding YOU will live in the worst unit - in an illegal unit in the basement if you can!

House Hacking, STRs, Mid-Terms, and BRRRR are all solid strategies to explore.

only one avenue to this and that is an equity partner that shares your dream. 

Does this approach seem reasonable, or am I undervaluing the property?

Quote from @Alan Mills: Yes, I would agree with Chris and Bill, but if you have an option to get around this by putting it inside the house?

Steps to PrepareGet Market Data: Research comparable sales to determine the property’s value.

@James Wise I began investing in Cleveland (from NY) this year, and I was following this grading guide for a while!

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Glad to have you as part of this awesome community, Jack!