There is never any reason to invest your cash in depressed markets or those that are depreciating.Your question about multiple SFH versus multi-units is partly a subjective question based on your preferences.

http://summitrealtygrp.com/ I have heard (on BP) that they have a 100% commission structure.I am seriously considering getting my license and hearing your post is a bit depressing but informative.

I then spent two years saving up $30k of capital, and finally jumped in with three investment properties in 2011 and 2012 when the market was depressed and interest rates were low.

The property was in a depressed city where it is difficult to find buyers.  

The Great Depression was a deflationary environment and gold went up.

.), the North end of Manchester, south end of Concord, where you can get in multi-offer situations, then there are sort of average markets where the right SFR's sell 'quickly' in 60 days, like the better of the towns where I live up in the Plymouth area, and of course you have your more rural or depressed towns that are pretty dead and probably worth avoiding.

It's entertaining in a somewhat depressing way; like watching a good number of these tenants go from train wreck to train wreck with their lives. 

But as you pointed out it's very depressed.

It is impressive but realize he also became an agent at the greatest buying opportunity since the depression.

That's Vacancy, Insurance, Maintenance, Management, Taxes, CapEX, Common.Vacancy - physical and economic vacancy... most people estimate 5-10% of gross incomeInsurance - ranges too much to have percentage, just get a quoteMaintenance - also called repairs... also 5-10%Management - property management even if you're self-managing.. 8-10%Taxes - be sure to base it off what the tax will be when you will pay when you it, might have been depressed for years or discounts for owner's age, etcCapEx - for future major repairs (roof, HVAC, boiler)... 5-10%Common - common area costs or any you don't pass on to renter... water, gas, trash, lawn maintenance, etc