I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

Something that is increasingly important to those clients is being cash flow positive from day 1 and this is what we deliver.

Planning on increasing my daily budget to probably $25/day and maybe adding in another state for $10-$20/day too.

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.

Rents , cash flow and appreciation increase over time. 

A coach makes sense if you are 23 and want to increase your skills enough to earn a living with the sport.

Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

So if prop 33 passes it will be possible to cap rent increases from one tenant to the next.A recipe for blight.  

At annual rent increases, I do scour Zillow for market rents in the area, which I share with my tenants.