To start with, you should probably focus on a few key metrics.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Instead, focus on learning their plans, challenges, and openness to selling.5.

I am a self-managing investor here in Buffalo, focusing on small multifamily with heavy value-add.

When I use AirDNA I do not focus on the algo generated number too much, rather how are the most comparable units doing. 

Focus on affordable markets, build a strong network, and continually educate yourself through books, podcasts, and deal analysis to steadily expand your portfolio.Good luck!

Does anyone have any good studying material for this exam or have any insight on what I should focus on?

Right now for me, the focus is on flipping but only because I have the right agent and contractor, I could not be successful alone.

I would start with either an agent who is focusing on investors, or even someone out of State.

I am working with a RE-focused CPA this year who charges a flat fee of $2,500 and is very responsive so far.