Then buy what they're willing and able to rent.If the tenant segment is stable and the days to rent for comparable units are reasonable — the duplex likely works long term.If the tenant base is transient, stretched financially, or oversupplied — the math may look fine today but degrade quickly.Before debating cap rate, I’d want clarity on who exactly lives here — and why they stay.Curious what the dominant tenant profile looks like in this submarket.

Water damage is expensive, often hidden behind walls, and sellers know that disclosing it kills offers.What to look for: Compare Section 4 of the TDS (structural/functional) against the inspector's notes on the foundation, crawl space, and attic.

Remote STRs look great on gross revenue but the real question is what’s left after management, cleaning, turns, supplies, higher utilities, repairs, taxes, and a vacancy buffer for slow months.Quick checkpoint I would run is annual net after all STR expenses divided by all in cost, then compare it to a local multifamily where you underwrite rent minus PITI minus property management minus maintenance and capex and see which leaves more real cashflow per dollar invested.

And watch the comparable data from St.

The numbers from realtors are also not com parable to each other.

You really need to run your own comps and compare the condition, amenities, and level of finishes of your unit with the comps (ideally using the last price before the comp went off market).

You’ll stay “legal”, have most repairs finished the day the tenant calls them in, and tenants tend to treat PMs like professionals compared to mom&pop landlords.

Compare that to having to put 20% down on a house using bank financing which on a $400,000 property is about $80,000 plus closing costs and carrying costs.

Since you’re looking in the Columbus, Ohio area, you’ll find the market really favorable right now—land prices and construction costs are still reasonable compared to other metros, demand for rentals is strong, and the macroeconomics are on fire with tons of population growth, job growth, and major companies like Intel, Amazon, Google, Facebook, Microsoft, Honda, and LG moving and developing here.

That's where I'd be doing my analysis instead of just comparing current cash flow.