Besides the properties costing more, other things to consider are: High taxes Tenant friendly cities more competition from other investors When I use to work up north I tried by a duplex for over a year.

Rent them at competitive rent rates to tenants that approve auto-draft each month.

If you're looking for minimal upkeep and minimal reno - I'd probably avoid the central downtown area as you will need to make a heavy investment in those properties to get to that kind of cash flow or the high return you're looking for right away.Best of luck to you!!

As a first time buyer myself looking for my first deal, I'm holding off for now and hoping to see less competition and influx of buyers thinking these mortgage rates won't last long (which my lenders have claimed they will likely last for the next few quarters).

It's obviously real estate heavy but there's other financial information to garner from them.

In many markets, that has become "a security deposit equal to a month's rent" or even just some type of security deposit insurance program - largely to stay competitive, attract tenants, and reduce vacancy. 

Any competition or close by storage places?

They all have different implications, rights and value.You need to do a lot of research on each property as you may buying useless paper.Auctions are usually very competitive and you don’t get good deal unless you are lucky or are in the end of the world county that do only live auction where no one shows up.

Hi Luke, Madison tends to be a hyper-competitive market due to low inventory and high demand.

Multis in my market typically wont pass an FHA appraisal inspection either.....and my market is far too competitive to get a 203k loan accepted.