NEPA - single family vs. multi-family
I'm a NEPA native, currently living as a "displaced Pennsylvanian" in New York. I've talked with a few of you investors in the area, and I'm looking for advice on single vs. multi-family investments in the area. My brother and I are hoping to invest in rental properties.
Having followed listings, sales, and rentals on the MLS and other websites for about two weeks, how profitable is single-family home investing in NEPA? The prices for what I would consider B-class homes in B-class neighborhoods seem high ($80k+) for the rental income ($300 or so per bedroom). Is this accurate?
I don't necessarily want a turnkey, move-in ready house, but I also don't want to do with $20k-50k in rehab. It seems that multi-family in NEPA offers the best return, especially considering cash-on-cash.