The city's appreciation, vacancy rate, cap rates are truly unparalleled when compared to the other markets you’ve mentioned.

There’s nothing wrong with playing it safe, starting small, mastering your strategy, and then scaling up—especially when using other people’s money.That said, as others have mentioned, house hacking is a fantastic strategy.

As mentioned, you probably have to skip condos, and you REALLY want to look up the local laws AND the HOA CC&Rs. 

Not to mention there is others out there with GIANT budgets, massive systems, proprietary software to effect big efficiencies, and they can't operate at that insanely low level, there is a reason for that. 

@Sharad Bagri  As mentioned above, home warranties often aren’t as beneficial as they seem.

A home at risk of foreclosure might also have a for sale sign in the yard that indicates the homeowner is distressed.Additionally, you may see a home that appears vacant or in disrepair.

Yes I'm fully aware of the lead based paint addendum and its use as I mentioned in my post.

I know nothing about the above firm you mention, but a quick look on their website shows they are likely offering you DSCR, so just general things to look out for in that world. 

The turn cost almost $4,000, not to mention court fees, attorney fees, and lost rent. 

You mentioned you're reading books on the subject - that's always helpful.