Southeast MArkets with the following characteristics:
$20MM-$40MM in purchase price (or really $8MM to $15MM in total deal equity)
1980s top choice but would do 1970s (and 1990s+ if attainable e.g. if low unit count, etc.)
With the more real interior upside the better (and ideally no more than 50% renovated)
In a goldilocks zone (e.g. $45K+ MHHI but light on new construction) and avoiding bad microlocations
Ideally yielding a +/-6.0% cash-on-cash initially and mid-teens IRR over a modeled 3-5Y hold
And that we should feasibly be able to be in contract on a few weeks from today
Main preference is good name-brand southeast markets, Will consider the following Markets :

Nashville Atlanta Raleigh Charlotte Charleston Greenville etc.
Some non-core NE markets like PITT HART NJ PA (PHI, Lehigh Valley) CT PROV
Midwest NFL MSAs ex-CHI, e.g. STL INDY KC CIN and some others like MIL
Florida is questionable – not MIA, and might do TAM/ORL etc. but really the above markets.

Multifamily

$20,000,000 to $40,000,000

New York New Jersey Maryland Massachusetts Maine Vermont New Hampshire Connecticut Pennsylvania West Virginia Virginia North Carolina Florida Louisiana South Carolina Georgia Alabama Tennessee Kentucky Arkansas Mississippi Oklahoma Texas New Mexico Michigan Wisconsin Minnesota Ohio Idaho Illinois North Dakota South Dakota