Though the city needs a lot of work in terms of crime and school, there aren't too many small/mid size cities with the arts, food, nightlife, access to suburbs, lakes, wine region, etc. that Rochester has while having extremely low taxes. 

Both have great rental histories, are located in very good neighborhoods and very low vacancy.  

My assumption is I'll need to invest out of this area, as cap rates around Palo Alto are very low.

The trust rates range from 15% on the low end to 39.6% on the high end.  

To affirm what the others are saying, you are going to need low interest loans to make the BRRRR strategy work.

We followed his lead, even joining a 100% commission, very low support brokerage in exchange for him promising my wife and I that we’d achieve a Keller Williams level support from him, without the painful commission split.

@Josh Carr, Thank you very much for great details... few more questions...Once we win auction deed, we need to manage properties like insurance, maintenance?

It's too small for professional multifamily management and the SFR managers have a different business model, without multifamily vendors and suppliers for turns and maintenance.  

One person will deal with tenets, renovations and maintenance.

Is the rent covering the taxes and insurance as well as the maintenance?