Also, you'll have to look at the area on a macro level.

Properties are generally much cheaper relative to the rent they pull in, than in NY.3) Lower fixed costs - lower real estate taxes for starters relative to your rent roll, etc.4) Lower variable costs - labor is A LOT cheaper here.  5) Less stringent code enforcement.6) Less maintenance - milder weather, and younger average age of homes make for less maintenance.   7) Diversification - low entry price to buy property allows and investor to manage risk by buying properties in different neighborhoods instead of putting more eggs in one basket.In additional to the benefits I listed above the city is growing so fast that homes rent very quickly, often times before the sale of the home.  

That was a major choice for me looking into the Saratoga county as the taxes can be lower.

It's worth looking at other towns or regions where taxes may be lower.

You can close the deal and then cash out refinance to a much lower interest rate.  

I eat it on sales above $200k or so, and on lower priced deals I tell them it's part of my services, period.

Stuart only has a few area's that have a decent cap rate like "golden gate" which is a lower income neighborhood.To the op's question, affordable housing will never go out of style.

Statistically DM response is 3% average depending on the list you use that can be higher or lower.

It's a pretty safe location for rental income, lower crime and a fair amount of appreciation, however you are probably going to pay a fair amount in property taxes, purchase price, etc.

It would be a much steeper investment curve with lower returns starting with one truck.