Especially, since you don't expect great appreciation.I'd want to see at least $150/unit/month and a CoC ROI in the mid teens or better.

My market in Denver is also way too expensive, so I am working in mid-west markets for the time being.Good luck!

I see it easily scalable up to mid-20 doors while keeping a full-time job.That’s based on the properties being A/B class, low touch, low turnover.  

Originally posted by @Bala Apparao:Not to say that data is bad,But if anyone read a data point of New York in 1980s - no one would have touched it with a 10 feet pole.Highest crime and murder capital of the world.Look at the Prices move from 50K to 1.5 Million in just 20+years.Statistics cannot predict the Gentrification and what City is about to take off based on past predictions or current readings.There are variables that cannot be measured. to be fair and I like whats happening in Detroit compared to my experience there in the mid 2000s  but U cant compare Detroit to NYC NYC being the center of the universe for the capital markets.. 

The intersection at I-84 and Ten Mile west of Meridian is turning into a cluster of mid-rise office plus some very large multifamily projects. 

Fixer upper probably has the most appropriate content for fixers and flippers plus they don't dwell on the typical mid-show 'disasters' the way Love it or List it does.

If raising rents in a 4 unit does actually increase property value significantly then I would be doing mid-high level renovations (flooring, cabinets, etc.). 

The slow , steady predictability of the quintessential mid-western small town make these units easy to rent and to typically a long-term tenant, low turnover.

In Missouri - to rent out a propertyNo license required to own property in the state of Missouri - but many municipalities across the state have different regulations to owning and operating rental property with some sort of fine for failure to get one, and not very good at figuring out if you are not compliant.So you need to check with EACH AND EVERY CITY to get the rules.I wrote a blog post last year for Mid-America Association of Real Estate Investors covering the Kansas City Metro. 

So right around the mid-point of what you are seeing.