Less desirable neighborhoods are more likely to see cap rates upwards of 7-8%.

If you are in high desired neighborhoods you should find great success.

Eventually scaling to the point I can obtain five to six figures a month from properties will provide funding for said creative endeavors, such as a recording and animation studio with top notch equipment, eventually a conglomerate for a unrelated business.It is my sincere hope that my burning desire to learn, network with mentors and other professionals, and take the steps necessary to overcome fears in real estate investing to improve my quality of life and goals can be taken seriously, so I can eventually do the same for others.

So will have a lot of variability when it comes to desirability and rents/home prices depending where you are at specifically. 

If you are honest with yourself, you know whether it is a desirable area or not.

I make $62k/yr and have $24k in liquid assets ($11k in investable assets after setting aside my desired 5 month reserve fund).My long-term plan has always been to buy a duplex to house hack, but I came across a cheap 2-unit condo listed around $110k that looks updated and move-in ready.

here are some sure fire tips to ensure the desired outcome is achieved:- Zoning.

Since I buy in desirable areas, no rent reductions or incentives.

The bigger box factories, I mean facilities have it's place but less than desirable for sure with low staffing levels.

Assuming the occupied unit recently qualified the yearly section inspections, and if the tenant elects to stay on (lease ends May 2026), I would have them stay as long as they desire and explore if there is any room to negotiate modest/fair increase in the rent.