As for SW markets, ABQ is the "affordable" option as SoCal, AZ, and CO have become over valued making it difficult to find decent deals. 

Something to keep in mind when you are looking for stabilized loan options for the long term. 

Try to narrow down your options to the top 3-4.

That said, I'd recommend focusing on locations with high sales volume as you will have more options to choose from in these locations.So far this year, 240 multifamily properties (2-4 units) have sold in the Bronx - Source OneKeyMLSThe neighborhoods with the most sold properties are:- Wakefield and surrounding North Bronx neighborhoods (31 sold in '24)- Throggs Neck and surrounding Southeast Bronx neighborhoods (31 sold in '24)- Pelham Gardens (30 sold in '24)- Pelham Bay (28 sold in '24)These areas account for 50% of the recent Bronx multifamily sales... focus here to have more options!

This devaluation of currency has pushed many potential first-time homebuyers out of the market, leaving renting as their primary option.

@Allen Wu- .25% rate difference wouldnt be  ample for mw to choose to use a 10 yr arm  versus a 30 yr fixed ....especially  if the proeprty will be a long term hold .....once rates  drop you can  always  look at rtefinnancing options ....make sure to  review all the rate / fee options ....the  more you are willing to pay in loan fee ( points) the  lower the rate you can get will be 

@Jeffrey RichardIn many of these areas while it appears on paper these assets will provide cash flow there is the possibility they do not due to the type of tenants are typically lower quality and have payment issues, properties need more maintenance and upkeep etc

These type of properties are typically much easier to find financing from a commercial small business lender rather than a true real estate lender - I would point your search in that direction

You can share as much of the information as you want with the seller, but I typically share the overview of my numbers, explain where the numbers are coming from and why its needs to be this purchase if I am going to do the deal.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.