The reason its more expensive is because it has in the past appreciated faster; no reason for me to think that Atlanta will ever out appreciate LA in the long run.But cap rates/etc will be higher in ATL

Budget for maintenance, landscaping, Cap Ex, etc, and put your offer in based on that because you never know what might come up and you don't want to be locked in to having to mow a yard for 5 years because at year 1 you thought it was a good idea.  

The cap rate seems good for the area, however I'm not quite familiar with evaluating competitive cap rates for Long Island.

After 4 properties it will drop to 6%As far as the others their vacancy is like 3% on average and my other house was rented in 3 days. 5% was my assumption for SFH for MFH i would call it 10%I threw cap/repair together for 10% do that on newer or recently repaird homes.

I am having a hard time finding 9-cap or higher small multi-family (2 - 4 unit) properties that would work well in a buy-and-hold scenario within my markets (Indy and Cleveland).We have been contacting agents and wholesalers, but not getting good enough numbers on the leads/listings we have.

I would say for rentals you should be looking at 20-25 cap easy.

How are cap rates?

@Kapou Lor ask for the trailing 12(rental income of the prior year, request last years expenses, and research the cap rate of that area.

Ziaur,There are lots of lenders who can get you 1-4 units with 30% down, we can help you with the financing, also out of state you can get more bang for your bucks, your best bet would be buy 5 properties for about $40k each and get rent of about $850 each, that should put you at the ROI you are looking at. 

I assumed you rolled the repairs into your loan:Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $249.09 Taxes $68.33 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- Cap Ex and Ops $150.00 Insurance $58.33 Mgmt Fee $90.00 Vacancy $72.00 Total Expenses $687.75 Total Revenue $900.00Cashflow/month $212.25Cash on Cash Return 14.89%