The cap rate method resulted in a valuation of ($260k–$452k), which agrees with yours and likewise.

And yeah… LA can work, but the margin for error is razor thin unless you’re very strategic.A couple thoughts that might help as you ramp up:Get very clear on regulations early (especially STR/MTR — city and county rules can make or break a deal).Build a small but strong local team in whatever out-of-state market you choose before you buy.Don’t underestimate how valuable your skill set is — high-quality photos/video/drone work is huge for investors, agents, and STR operators.BP is a great place to learn and contribute, and offering real value like that is how relationships actually turn into opportunities.Glad you’re here — looking forward to seeing you around the forums.

Chicagoland market is full of potential.Using the BRRRR method where the rehab forces the equity in the building has the best up side for rentals, but also take the most work. 

I've heard a lot about using the BRRRR method or doing Air BNB with single family properties.

The good ones, I'd fix up to rental quality with cash and manage the job myself. 

After a year or so, you could then qualify for another FHA or conventional loan on your next property while keeping the first one as a long-term investment.If you are thinking about using the BRRRR method for your first deal, I would be cautious about taking on a property that needs too much work or has a lot of deferred maintenance.

The ROI MathOn a $1.2M commercial asset, a quality study might find ~$300k+ in accelerated depreciation.If you do it yourself and miss just 10% of that (which is easy to do without engineering software), you’ve lost $30k in deductions.That loss is far greater than the few thousand dollars you’d save on a fee.My advice:Don't DIY a commercial asset.

Between the Intel fab, the EV battery plants, and data center buildouts, you’re seeing real job growth that doesn’t rely on coastal tech bubbles.Houston and Indianapolis are worth a look too if you want markets with landlord-friendly laws and strong rental demand.One thing to keep in mind as you build your portfolio: finding quality tenants is half the battle.

Fix and flips and rentals are a great place to start, especially here in Dallas where there is plenty of activity and opportunity.If you want to plug into the community fast, there are a lot of high-quality in-person meetups happening every week across DFW.

Not necessarily quality or substantive content but syndications now appear far more frequently in the daily conversations on the BiggerPockets forums than they did in the past.