A couple questions on Multi-family
I've been looking in Ohio to invest since Phoenix seems to be priced beyond getting any Cash Flow at this point.
I guess my first question is why is Multifamily so cheap out here, but the rents are comparable to Phoenix? I see buildings for less than $100k, some even cheaper than $50k while the rents are around $500-600/month. These prices are on 3-4 units buildings as well. It seems you can get a fixer upper fourplex here for $15k if you really wanted to.
What are the average water/sewer/trash bills for 3-4 unit buildings out here? I pay around $275/month for my fourplexes in Phoenix. If it "Depends," can someone at least give me a range to work with.
I know about the lead based paint rule set to go into effect in a few months, and will be scrutinizing any properties for it.
Thank you