Iowa at $90k with paint, flooring and rent increases — that's the bread and butter buy and hold formula done right. Low basis, forced appreciation on the light rehab, and a long hold doing the rest.
Curious on the numbers here — at $90k with conventional financing your break-even rent to cover PITI is probably around $650-700/month depending on your rate and local taxes. Where are you sitting on current rent vs that floor? On a 4/2 in Iowa I'd guess you have meaningful spread above break-even by now.
With 17 units you're clearly running a system. Do you underwrite these deals the same way each time or does Iowa vs your other markets change your assumptions?