As mentioned in the other post, deciding what your true goal is as well will help you choose a market.

I heard a podcast that mentioned an established vacation market in Michigan.

If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

And as for Track Record, as both Chris and Brian mention: this is important to see.  

Example mentioned already of shifting the leases to term out in the summer.

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

Aside from the Debt-to-income ratio and risk benefits you've already mentioned, it also just helps keep everything organized.

Quote from @Hector Espinosa: Hi @Alex Craig,This would be my first property and as I mentioned before I think numbers looks good but something is causing me trouble is the high crime rate in the area.  

I would not be surprised if this was a very well thought out plan that someone would move to another country that could avoid everything you mentioned while living there where ex pats are welcome and can live a wonderful life. 

The other thing I meant to mention with EV in CA. and I am not sure if its this way in the Bay Area on 880 or 101 or 280 or 680 but the HOV lanes in LA if you have an EV you can run in the HOV lane with one person..