If the insurance is higher, like in a flood zone, or hurricane zone the net will be lower. 

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.

Then, the lease will be up in the summer when the demand is higher to get better returns 

Quote from @Anne Gel: @Russell Brazil: I'm coming to the party late, but I don't get it - what do you mean by higher casflow = more risk?

Another option if you're looking for something with higher yield than index funds, that's hands off, and will teach you a lot about real estate investing without having to do it yourself could be investing in syndications which is referred to in the book Jonathan recommended.

For investors, this translates into higher cash flow and improved ROI.2.

So % vs % on borrowed funds for investing, trading on margin is much more expensive, WAY higher risk, AND now even MORE loss of control because when these things out of your control happen you have no control for the status of those "assets". 

And while crime isn't out of control in either suburb, it is higher than the national average and the schools are medicore at best.

This benefit allows the owner’s estate or heirs to receive the property at a new, higher basis—reducing capital gains taxes if they choose to sell the property after inheriting it.In short, partial disposition allows tax deductions for retired property components during ownership, while the death step-up basis resets the property’s depreciated value, providing tax relief for heirs.

Does that mean it's on a roll and will go a lot higher or is it likely to do what it always does and correct?