I think the key is you set your desired cap rate first.

Simple , you can buy rental properties with double digit net caps, 100% hand off.

I am not sure what you're looking at but they are terrible, 500 x 6 - 3k about 36k gross , now taxes ,10k, ins 3k, PM 2k, misl 3k, net about 20k , that is not even 6% net cap, TERRIBLE for the Cleveland markets, You need help, reach out if you like   

Keep the big picture in mind of lifestyle and the long-game of investing over 70 years, and not just the next 24 months so that you don't cap yourself and your potential, or start to hate real estate because you get frustrated.

However instead of keeping them (which I should of done) I sold them after two years, to avoid cap gain tax.

All my deals are cash, as is ,this way you get a better deal.  10- 15% NET caps, then if you refi COC is much higher, 

SFR, purchase price 130K and repairs around 20K, expected rental price 1,400That means Net Cap Rate - around 7.2-7.5%I want to know a little bit about the neighborhood.

So it's knowing that sweet-spot, schedule that, work towards filling that, going 1 step further, and mastering getting great at that volume level, and once have mastered that, then step up the cap a step more. 

Simply taking over then raising rent is a bit abrasive. 4) Consider an escalated rent period, where you make the increase steadily over a few months.5) Make sure you do it before the NYS legislature takes another run at GCE with a rent increase cap!

Property Type: LTR opportunity (SFH, Small multi-family (4 units or less), condominium)Location: Atlanta macro market, micro markets of: within a one hour drive of 30265 zip codeCondition: Light/moderate rehab to turnkeyPrice range: $250,000 - $450,000Profitability: Cap rate: 6%, Cash flow: $200, CoC: 10%Goal: Value add, buy, and hold rental propertyCriteria: no abatements, no foundation issuesAdditional: Class D property in a Class C/B neighborhoodFinancing: Focusing on subject to, and seller financing for now.