Having an $800/month nut (not including taxes, insurance, property management fees, cap ex, repairs, and vacancy rate leaves you no room to even cash flow.

.$68,400 * .5 = $34,200 / 10 CAP = $342,000 + the wholesale value of the homesPersonally, I think you should tie this thing up before someone else does.  

Account ClosedI guess by trickier I mean the prices are higher, and those great CoC returns/Cap Rates you see in other parts of the country are seemingly harder to come by, ie I'm probably not going to just see too many great deals pop up on the MLS.

So would you figure in those cost would you or are you looking directly at cap rate for those properties.

It's a great place but the cap rates are low. 

Both real numbers for income and expenses and also comparables to come up with a suitable cap rate are tough to get. 

Use the search feature in the upper right hand corner to start your quest.

Here is my pros/cons list:Pros: High ROI (12-15% cap rate), high demand for housing, low unemployment, depreciated/buyers market Cons: Buildings are typically over 100+ years old, lower income tenants, newer apartment projects beginning near Nebraska University, not great outlook for properties to appreciate in value-Will maintenance be an absolute nightmare?  

Also, if interest rates go up that high cap rates will have most likely gone up, decreasing the resale value of the property.  

Wondering what are good cap rates for a single family rental in Dayton area, specifically looking in Belmont.