If it’s a lower-income rental market, high-end renovations may not justify premium rent.

But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.

Start at a higher price point (not too high maybe 10%-20% higher than what you expect to rent for) then each week lower it just a bit until you get it rented out. 

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

The only thing that makes these properties turn key is the fact they are move-in ready for a lower income tenant with low expectations.

It sat for a bit and the price was lowered to 46k so I toured the house and made an offer of 36k after adding up renovation cost in my head.

Hi @Elias Halvorson,Both markets offer lower costs of entry and opportunities for cash flow.

But at a lower rate compared to other cities that are growing. 

The downside is that you have to share your home with a neighbor and since most of our duplexes are upper/lower configurations you will usually hear them a little - at least know when they are home.

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates).