I have a client looking at a 3 bed a side and we are going off of real closed rental comps on the MLS, targeting 1500+.

What is the typical target cap rate/IRR range for a hospitality, retail or apartment complex?

@Jennie Mcgaughey Being on a busy/noisy street is a turn off for some buyers and renters, others won't care.With a gross over generalization, a 3/2 is probably a good target for a young family with a couple of kids (be sure you DON'T advertise it that way or you'll run into a Fair Housing buzz saw!). 

Given both offerings targets the same return: IRR, equity multiples, and vesting term with similar sponsor background, and same type of deal (buy in place, minimum value add, hold, exit), how much premium will you price based on the location?

Check property records in your target neighborhoods to see if there are delinquent taxes or property that hasn't been sold in a long time like 20, 30, 40 years.

Alex, I would love to hear more about your lenders in Pittsburgh, as that is my target area. 

Hi Garrick - I am outside of your target area but in the NC market - Charlotte and surrounding areas. 

Do you have time to drive for dollars to knock on doors and drop off postcards in a target/farm area for an experienced investor?

@Manuel Salce , as others have mentioned, targeting Section 8 tenants only would be discriminatory and definitely a fair housing violation.

I would suggest targeting homes that need cosmetic upgrades or are just outdated, slowly work through those while you're there, and do a little house hacking by renting out rooms as soon as possible.