Low vacancy rates, rising rents, and high tenant demand for more space/good school districts. 

They must provide quality service, or their clients won't want to pay the price.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

@Kaleb JohnsonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The median home price is also very low nationwide which creates a low barrier to entry.

@Bryan HartlenManaging low-end properties can be demanding due to higher tenant turnover, increased maintenance needs, and frequent rent collection issues.

You might be able to find a lower price point per unit than I’m at but it’s a LOT MORE WORK to have low quality properties as opposed to nicer ones.

Some theming is basic and some is overdone, try to be unique or at least high quality, not a place you want to skimp.

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

City-Data and Census.gov are solid resources, and sites like Rentometer can give you a good sense of rental prices.After that, I narrow it down to neighborhoods with strong fundamentals—good schools, low crime, and convenient amenities.