(Compared to my hometown here in Phoenix everything in the Midwest is affordable lol) I've already called a realtor about a couple properties in Mason and they already had offers on them.

Some of the parks have an internal, almost built-in marketing system for properties that I would carefully evaluate for comparables, etc.

@Lawrence ChenThe first step I’d do is write down your goals and expectations for an investment - what cash flow do you want, how much time do you want to spend, what condition of home, what about a market attracts you, etc.Then once you have a better idea that, I’d recommend to start reaching out to agents who are also investors so you can learn how the local markets are operating and how the on-market MLS compares to off-market deals.Overall, the Midwest is great.

In Chicago management cost get higher the rougher the area and in nice areas it can be very low compared to the rest of US prices. 

If you want to figure out whether you're looking at a good potential value add opportunity, you need to evaluate the physical condition of the property and comparable properties.

We often see a 3 unit (1 commercial, 2 residential) selling for less than a comparable duplex and if the residential square footage is greater than 50% of the property you can still qualify for residential financing, which most people don't realize. 

When you're selling an older house that needs work you find comparable properties and price accordingly.

You can also look on the Airbnb and VRBO site and use that for comparables, the same you do comparing long term rental data.  

A couple highlights:MFHs can usually render better more cash flow since they typically cost less per unit compared to a SFH.MFHs can save you on capital expenditures since the roof, foundation, and other components are often shared.However, MFHs tend to see a higher turnover, I remember always feeling unsettled staying in a multi-family, but some people live in them for years.MFHs are often hard to value since they vary greatly in type and location.

Yes, but they are still historically low compared to years past.