Still, landlord-friendly laws, low barriers of entry, and cash flows is good. 

Quote from @Bonnie Low: Hi, Lauren.

I am new to the Chapel Hill area, so I am open to advice, but it seems like the Mebane, Hillsborough, and Pittsboro areas are attainable at a low price.

The rent is still relatively low  compared to other NY metro area. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

February 15th @ 6-8pm we have a sweet panel event discussing How to Break Into Real Estate with Low to No Money Down. 

You finish the project out in 12 to 18 months and the tax assessment is orginally low because dirt value only, then building 50% occupied, then 90 to 100% occupied (hopefully) but then gets fully reassessed.The reassessment pushes your base rent plus CAM super high and shocks your mom and pop to local tenants.

My low ball offers take things breaking into consideration so I’m ok with some issues that come up.

During that time housing prices were low, interest rates historically low, and 2% rule was probably possible in a lot of markets.

What area/neighborhoods are you interested in living?