It's like musical chairs and this will keep driving prices until the market finds an equillibirium between supply and demand, which all free markets will do over time, but since supply and demand are not that flexible it has to be price that will reduce demand until we are balanced.Milwaukee is also seeing a little bit of an increase in imigration due to climate change: smoke, fires, drought, hurricanes, floods, fresh water - in combination with remote work and low cost of housing compared to most of the country.

Before visiting the property we did our due diligence by looking for comparable properties on the MLS in order to understand if this was a good deal.Determining our offer price:We use the 70% rule to determine our offer price on any property.

You can also do some secret shopping by pretending to be a renter and touring homes on the market that are comparable to yours. 

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspot cities investors usually consider:https://www.biggerpockets.com/...

When I was offered transfer from GA it was to DC area, Northern VA is so expensive compared to GA that we turned down transfer, company came back and said we could live in Richmond area.

The tenant mistakes and contractor mistakes are nothing compared to not being 2 years closer to my goals.

You can have the bank compare the increased closing costs va the increased interest paid based upon how long you are planning on holding the loan. 

looking for advise on investing in the Ironbound section of Newark, I have read a couple of threads on hear that talk about ironbound as great neighborhood but it's too expensive to invest in.....however looking at the median rents compared to the pricing of the homes and it seems very reasonable especially on 3 or 4 family properties ... would love to hear others opinion on this...

You might want to check out our "Deep Dive" series on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider.

A developed piece of ground or one that is partially developed would be a lot more difficult to sell and would likely be sold at a large loss in terms of what the bank has funded into the project compared to what is netted out of a distressed sale.