If you feel that "South Louisiana will become Ghost Town like Michigan" it's okay, you just don't understand how this type of adversity only makes us stronger than if this never happened.  

If it is 30k for them to start up and they have 60k then they might have to be profitable in 4 to 6 months or they go out of business.If tenant is weak see if they have parents,friends,other business venture partners that would guarantee the lease that are a lot stronger.

If you capture additional equity at purchase it gives you more options:  you can sell immediately if you needed to, you get a bigger pay out when you sell, you can get a cash-out refi sooner because you do not have to wait for the market to rise, or you can hold from a stronger position because you should be able to find deals that get more than $200/ mo cash flow.  

I had to find my own strength from within.THAT made me stronger, my skin thicker, self reliant and a freaking force to be reckoned with in my market.THAT is where I draw my strength from when I am down.

I will also be coming to the Hampton area next month, I too have an agent that told me the same thing that the area is pretty much immune to any market correction and that it is going stronger ever.

Pressure was much stronger with the new pipes.  

Northern Virginia is a very strong real estate market and has only gotten stronger in recent weeks with the Amazon HQ announcement.

https://insiderlouisville.com/economy/short-term-r...They are really cracking down on short term rentals. I always say look at Nashville to see what our future looks like. 

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Why not look into MF properties to look into much stronger cash flow?