If you don't intend to occupy one unit ("house hack") you might consider looking at some of the cities outside of the metro area that still benefit from the population growth of the city but have a lower price point.

Let's rounded to $400/mo/unit to simplify the numbers.That is an income of $1600*12/yr from rent ~= $19,200Now, expenses:Maintenance: $9,600/yr (50% rule)Taxes: Around 1% ( lucky New Mexicans): $1,700/yrMortgage Payment ([email protected]%): $763/mo ~= $9,150/yrInsurance: Around $1,000/yrPossible Cashflow per Year: 19200 - 9600 - 1700 - 9150 - 1000 = (-$2,250)A negative cashflow does not look so good, but here are 2 opportunities to increment it:1) Increase rents.

His mortgage is just more than $1,500 right now, so there is no cash flow opportunity, even with self-managing. 

Furnishing would be done by myself at the beginning of the lease.After meeting with an owner, and explaining the opportunity along with my professional background and providing references, the owner could trust their property would be treated as I would treat one of my own properties, which is with the utmost respect. 

My wife is a Realtor and would be glad to talk with you about the area and the opportunities.

@BJ HendersonFrom my perspective, I don't see this as a money making opportunity.

In fact I saw a couple the other day that @Ramiah Thomas posted that look like great opportunities for flips.

I'm currently marketing directly to property owners in various ways and have been able to find off market opportunities that way.

If you're located in Columbus, or Ohio I would love to hear about networking opportunities or resources specific to our city / state.Looking forward to getting to know you all!

Winging it can cost you big time both out of pocket and in terms of lost opportunities.