There is variance in markets but I believe most high price markets are like my market with 2 primary plays 1) patience.

When the current tenant’s lease is over ask your PM what market rents is.

First, the market has been really soft the last few months. 

Be sure to buy it off numbers that make it a deal in any market. 

Hello, my wife and I are about to close on our first house hack and we’re about to inherit two renters that are on month to month leases that are way below market rent.

I’ve been looking at Alabama and Georgia but have found that these market have already appreciated and with the high interest rates, the numbers don’t work.

@Billy Houston- thanks  1) DSCR might work very  well for you ...if you can  qualify for a standard  conventional 85% ltv  loan - this would provide better  loan terms   2) yes - DSCR is very different than a cash out refinance 3) consider  getting fully pre approved for a standard  conventional loan at a 85% ltv ..this is  crucial  to do if you are looking to buy in a competitive market - thanks and all the best 

What I mean is this Money market at Bank of America pays for instance 4%, the money market local Bank of Bricktown Pays 4.5%, an online outfit is offering 5%.

You literally have a unicorn when it comes to lending in this market.

You need to be constantly looking at properties in real life so you know what the number actually look like in your market.