Below is a breakdown of the current financialsGross Rent (me living there - 3 of 4 rented): $4,750Gross Rent (without me living there): $6,600Purchase Price: $372KRehab: $144KTotal (Purchase + Rehab): $516KAround 1 year later, I decided to refinance the property based on the new appraised value, and remove the PMI (1.1% - roughly $500/month).I am now on the search for a another property at the beach (single or multifamily), or other well located areas of Jacksonville, that have value add opportunities.  

This would have been based on purchase price

Hey Kevin, the reason I ask is not to just plug your numbers in, but rather what I would pay would be based on what the cap rate is in your area.

Given the "range", perhaps make your decision based on the percentage increase in gettable rent vs the percentage extra it's costing ie.

So according to my calculations for my loans which are at 6.8% ($170k worth), I would roughly need a return on an investment of 9.44% to be equal to simply paying off my student loans, based on my tax bracket (if my investment was hit with income tax of 28%).

Prices have gone up due to overall Portland metro but the tenant base has really taken a downward spiral due to gentrification of close in neighborhoods (no offense to anyone that lives there).

I am based in Maryland as well if you ever want to reach out!

**Please indicate the city and state in which the attorney is based**

I think @Sara Eastler and @Jean Nelsen have already given some great answers, and obviously being based in Birmingham, AL, I know that market best.

Are there any local real estate investment associations based in NoVA?