Those will require a little attention for the first year or so but after that they'd probably do OK on their own in your climate. 

Conversely, we have seen our political climate go in the opposite direction, particularly with regard to growth and development” said Sally.

But I can't get myself to just take a bunch of little vacations just to see an area so I've got a proposition for investors in a warm climate..

The climate now is nothing like the climate then. 

The following are some property selection guidelines.Older properties require more maintenance than newer properties.Composition roofs require more maintenance than tile roofs.Properties in climates with hard freezes require more maintenance than properties in mild climates.Properties in locations with a lot of moisture require more maintenance than properties in dryer climates.Wood siding requires more maintenance than aluminum or stucco siding.Properties with lush vegetation require more maintenance than properties with little or no vegetation.Locations with high levels of termite activity will require more maintenance than areas with little or no termite activity.The tenant pool has a significant impact on your ongoing maintenance cost.

Similar if asphalt shingle do not last 25 years in your market due to climate then the cost goes up appropriately.Fortunately, with $400/month projected cash flow you can be off a little on your cap expense estimate and still be fine.good luck

New high efficiency gas HVAC for perfect home climate...

My units are in San Diego (one exception) and therefore the costs might be higher but so will some of the life expectancies (virtually no water damage, minimal heat related issues, ... basically a mild climate). 

I have heard both sides - half of the people saying RE will trend upwards for several years given gainfull employment opportunities and a adventageous business climate along with a continued shortage of housing; I have also heard to wait to invest until around the 3rd quarter of 2019 when housing is more abundant and the economic trend demands a downward curve. 

Stephanie Potter for every point made about today's multi-family investment markets climate, in her expert opinions and experiences of being in this field.