While you're out in the field make notes of properties you like that aren't being maintained - look for high grass and weeds, broken windows or unshoveled snow in the winter.

starting out I use excel, as I grew I used quickbooks but there are many other programs out there that can track this for you.Regarding left on mortgage, I just left that with the lender and the digital statements but many times that is like watching the grass grow - especially if its a 30 year mortgage...

In regards to demand demographics, yeah I think you'd be targeting a different group, and supply/demand has to be looked at closer. 

You can typically only have one FHA loan at a time (usually must occupy as a primary for a minimum of 12 months), but there are some extenuating circumstances such as a growing family or moving to a bigger property closer to work that would enable you to apply for a second FHA loan before departing.

You should take a closer look at how far behind they get and the timelines in which they get the balance caught up.

I actually hope to get closer to $5000/month. 

Now the minimum standards your basement has to hit for it to be able to count as assessed sqft not estimated is a height of 7 ft, a point of egress (bilco doors) and a window usually in the rear, It's one of those things where if your going to go through the process of digging out a basement you might as well go for it and dig it deeper then 7 and closer to 8 ft so you actually stand out compared to the competition.Now the other side of this coin which I would suggest is if you're willing to spend 40-50k on a basement dig, consider adding a 3rd story addition if your a 2 story (think master suite, walk in closet, master bath) or an addition off the back and add a roof deck if your a 3 story (either master suite or just additional bedroom).

Now it closer to $500 plus they steal a large fee from my guests and force me to use their 3% fees to get my money.

After a few years of licking my wounds while running my grass fed farm, I decided that the only way to recover was to liquidate my remaining property and basically start over investing in real estate.

If one of the units you will occupy is larger in GLA/bed/bath count its okay or if its closer to work or school.