Also loss history can play a significant role. 

He plays the game and was able to let them use 100% of my lease agreements amounts.

Not sure if you plan on pursuing a higher education, but that can be a factor that comes into play as well.

Along with risks of natural disasters some areas of the country are also more litigious or even have more uncertain jury pools and that can also play into insurance pricing.

It's interesting how everything will play out, I actually don't expect significant rate cuts until next year but who knows.

There are dozens of metro area which all have different dynamics at play.

I own/operate over 150 units in Pittsburgh and you can find every sort of real estate investment play here.

hold some of that initial 100,000$ for reserves. if you spend it all and something goes wrong you wont have time to accumulate profit the first year to really afford to fix anything. then you'd be dependent on personal income or another loan to fix the issue if one arose. play it slow and safe at first while you figure out the game and take some initial hard knocks that are bound to come. 

The condo proceeds from the HELOC used as a down payment will not be taxed.The tax will come into play when the condo is sold.

Sure the million dollar suburbs are nice if you have that kind of money and are playing the larger appreciation game but dollar for dollar pound for pound when it comes down to rent to value ratio its difficult to find the same kind of cash on cash returns section 8 rental properties offer in Detroit.