Remember - it takes staff to administer them, the smaller cities have less resources.

Remember that you should SUBTRACT the cost of tear-down from the value of the property.

Also, remember..

I deal directly with the owners and tenants to keep the homes maintained.

Looking in a few areas in the surrounding-ish NYC area, ideally 2 hours max from where I live in Queens. 

Just remember to retain all the value of the property mines the buyin from the partner. 

I don’t remember the form number. 

Is it the "ideal" BRRRR?

There many things you need to know ideally before you make an offer.Your first thing and not necessarily be the most important is the first impression when you drive like the building(s) and the landscaping, is it's location good for your tenants, the mix of the floor plans, can you add any value, Make sure when looking at the income and expense records that you looking at actual financial statements.Are there any nearby schools and are there there any nearby amenities and what type of the parking is available to the tenants, how any nearby apartment locations and what, if any, are they doing to attract prospects, look at all units and do not let the current owner trying to get you  not to do that, how does the current rental rates being collected near the market average, does it need any capital repairs or rehab right away,does it have a positive cash flow now, is it being properly managed by property management, and is there any nearby retail development and do its match your target market.

Just remember: most negative reviews are written by problematic tenants.