By limiting your search to markets along the route connecting Bay Area and Washington you will have a wide range of options to choose from in terms of prices and the demand for rentals.

The rate is good, but the process is not scalable if you want to keep buying.Hard money can make sense when the spread is wide, but in your case the numbers are already tight.

If you do not account for that, your actual returns will underperform your model by a wide margin.What is your framework for evaluating deals where the thesis depends on rent growth?

Regardless of market, the biggest differentiator tends to be ZIP-level selection and property management quality, not just city-wide stats.

While I’m not a broker or lender, through my co-investing club I’ve had visibility into a wide range of transactions, and execution risk consistently outweighs pricing or leverage issues.

I’ll try to keep this practical rather than theoretical.Grand Rapids vs Columbus vs Kansas City tends to come down to a few trade-offs I’ve seen in real deals:Grand Rapids, MIGenerally lower entry pricing relative to rent than Columbus/KCStrong blue-collar + healthcare + manufacturing employment baseTaxes are higher than some Midwest markets, but insurance and maintenance tend to be more predictableI’ve seen solid Class B/B+ duplexes and small multis where cash flow holds up even with conservative leverageLess institutional competition than Columbus, which helps buyers not get bid up as aggressivelyColumbus, OHStrong population and job growth, but that’s widely known nowPricing has compressed faster, so you often need either more leverage or tighter underwriting to hit the same cash flow targetsStill a great market, just harder to find deals that truly improve return on equity without stretchingKansas CityGood balance of scale and liquidityMore investor-friendly taxes, but heavier competition in the better submarketsI tend to see better results here for investors comfortable with larger multifamily rather than small 2–4 unit propertiesFor a ~$600k exchange where the goal is preserve cash flow + improve ROE, I’ve found West Michigan works well when:you stay disciplined on submarket (working-class, low-crime pockets),underwrite expenses realistically,and have local management in place from day one.Happy to share more specific deal examples if helpful — a lot of it comes down to where in each metro you’re buying, not just the city name.

Yes, Jordan, the percentage can vary widely depending on many factors.

New listings declined seasonally, down 5% in Austin and 7% metro-wide, while active listings increased, up 6% in Austin and 9% in the metro, consistent with typical year-end patterns.Inventory levels were relatively steady year over year.

I've seen insurance coverage costs vary widely for the same property. 

Every purchase is different and requires a wide set of knowledge.