The only factor that should matter is which market fits your investment objective best and allows you to achieve those objectives.

That was the plan, so with expected rent increases and a possible increase in expenses that I don't know about yet, an offer price above asking at maybe around 100k, I shouldn't have a problem achieving my desired 10-11 cap rate. 

Once you find an agent that knows the area and understand what you are looking to achieve, this becomes a beautiful match. 

I agree with everyone else here who highlighted the importance of staying on top of maintenance in old buildings, we achieve regular inspections through filter changes and CO2/smoke detector battery changes.

Best thing to do - make an appointment at Boston P+Z, sit down with a Planner for guidance and educating yourself first hand.

It takes the same amount of time to source and manage a 25% down payment rental as a 30% one...there is no difference between the two.Maybe you are asking if it's okay to put more money down to achieve your target cash flow. 

@Brian Gerlach is right, through education you are already ahead of the curve.House Hacking is an excellent strategy and we have helped multiple clients achieve that. 

You will have first hand knowledge of the necessary expenses to run this type of property, the leasing and turn over process as well as marketing.

If you can not achieve that level of financial control you will never be able to invest.

@Pat JacksonWhat others have said in regards to interest rate on the note, value of home, payment history (highly recommend using a servicer and not servicing yourself), LTV at time of sale to note investor, records of payment history, market conditions and a number of other factors are all great points.I would say that most performing Note investors are looking to achieve a 12-15% yield.