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That profit margin is called thenet operating income(NOI).
One solution experts recommend is purchasing rental property in a different state with more variable landlord opportunities.
Of course, this comes with its own set of challenges.
But you want to choose carefully.
You might even choose a city where you like to vacation or have family and friends that live there.
But first and foremost, you should keep that cap rate and profitability in mind.
Also, look for cities with a high affordability index.
The affordability index measures a households ability to purchase a home based on the median income in the state.
Youll want to know the eviction process, rent control laws, and how the state handles lease violations.
Make connections with Realtors, home inspectors, and contractors local to the region where you want to invest.
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