@Abigail King I invest in several towns in central IL, and am interested in adding some properties in Peoria to my portfolio as well. 

Still expensive though.And why would you want to invest in a city with rent control?

Utilities altogether is about $250 a month, internet is $90 a month for the 1T fiber (we want fast internet for 6 people), 5% vacancy, Lawn care $120 a month, Pest control $30 a month, and we do bi-weekly cleaning of the common area at $200 a month.

Yes, that is all correct, especially since we are in a very small town and the property location is fairly remote.

As we have 100+ year old trees on the property, as well as a pond and year round stream, I think it could also be used for a tiny-home or tiny-office (commercial) community, which would allow me to maintain control of my property long term and providing recurring revenue to me (my company). 

This is my second step into this world.Quick introduction about me:I'm 28, I live in a small town in Quebec, Canada.

so comparing miami to ohio or kansas or iowa is very wrong in my own opinion, because you are comparing diet coke with unsweetened tea, once the economy created its own pattern of success , comparing it to other town would not be accurate becoz the methodology of understanding the phenomenon has not been researched yet.like california is now the strongest market in usa although price wise it is the second highest and huge pop declines.

I am interested in neighboring towns near New Albany. 

Unfortunately no one is going to guarantee that they'll make you a loan; there are too many things that can pop up outside of the lender's control.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.