Thanks  UK and the other country is different because most people in UK has to refi every 5 years, so any rate adjustment would be felt/impact the market.US mortgage 30 year fix low rate and strict borrowing make this combination a very suitable/very stable housing after 2008.

While the 1% rule can be a helpful guideline for some investors, it's essential to note that market conditions vary greatly by location, and finding properties that strictly adhere to this rule might be challenging, also in Richmond.

I wouldn't touch Cleveland personally it can't and shouldn't' be compared from an ARV potential it's a cash flow market strictly. you can't do the strategy you are talking about when the average home is more than 60 years old in Cleveland and sells for $120k or less. hard to change those economics.

NV is very strict on these.

I want to know strictly from numbers perspective. 

IE: When do the strict tenant rights laws kick in?

You can control prospective tenants "trashing" the place with a strict contract and higher up front deposit. 

You would also have to be very strict about who you rent to, and make sure that they have sufficient income or resources to pay the rent, so you don't get stuck with a bad tenant situation.

Small multifamily trades closer to comps than a strict NOI/Cap Rate calculation.

I don't have any experience with that, but with VA being strict in so many things, I could see there being an issue.