Even if the property is centered in a city with a population of 30k it may be considered rural due to other factors.

No one mentioned this as a factor, but I assume this would severely limit/prevent me from deducting anything other than depreciation?

I'm curious, if you were to invest elsewhere, what areas would you consider and what factors would drive your decision?

Most fail to factor this in.I believe the fact no meaningful tax advantages exist saved you from going down a rabbit hole that would have been adverse to your business more generally.

The first year is probably the most crucial year, as you will need to calculate the cost basis in your rental properties, which will influence your depreciation expense on Schedule E.

So it's not the same as bank which might do 2-2.5x once debt payments are factored in. 

Your success is much more influenced by how well you play in a market, how good your team is, than by picking a marginal better market.

@Shaun Hunt Starting a property management company to manage your own properties could offer some tax advantages, but there are important factors to consider.

For experienced landlords, what factors should be prioritized when choosing landlord insurance?

The rents were at $1000 a door with a potential to increase up to $1250 after some small TLC renovations.When you factor in the price point, lower taxes and lower insurance you have yourself a sure fire cash flow deal.