NOI, and by extension the cap rate allows people to compare 2 different assets.The amount of leverage an investor uses, and the rate at which he borrows, and the length of time they have to pay back that debt are completely independent factors from the asset.

Maybe a different way to go about it is evaluating the market rate for a rental of that size.  

That being said if the properties were in my back yard I would still have professional  property managers so I could do what I do best and enjoy the most.

Best regards,Ryan Cheek

Welcome to BiggerPockets Alesha and best of luck investing!

We’ve learned the hard way that sometimes, the best choice isn’t the one with the highest price tag.

If you're concerned about issues, make sure to have a camera pointed at the driveway, smartlock that logs all the comings and goings, noise monitor inside and you can even place one in the backyard, and lastly get damage rental insurance on each booking that the guest pays for by baking the charge into the nightly rate.

It's like asking what the best food is.

The Fed will be lowering rates so that should make investments a bit more attractive.

You are also bidding against experts at these auctions.The best thing to do if you do plan on vetting foreclosures is to talk to the two neighbors and the two houses across the street.