Hi all,We are planning on moving next year to a very high cost of living area. 

I highly recommend that you continue tuning in to the BiggerPockets podcast as you'll find the education very valuable to your journey. 

Win the bid by coming in high then figure out a way to get the price reduced..

So, right deal with equity and cash flow is like buying a high yield dividend stock at a discount.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Variable rate mortgages on second properties are the first to go in high-interest rate environments.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Compared to other apartment buildings I have in the area, indeed my taxes, which are assessed at the individual condo level, seem extraordinarily high.

if you want a large, high end, custom home and are willing to pay the associated high cost then building it may be a viable option.  

Median home purchase price is really high right nowBUT, buying a property just because it's cheap is a surefire way to lose money!