One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

Much cheaper to keep it nice and cool.

Still alot cheaper than a plane ticket :) 

I am currently located in The Bay Area, California and I am little nervous about  investing out of state but I thought I would give other cheaper markets a shot other than my backyard which is expensive.

Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

@Anthony Finelli check your mortgage paperwork for the Truth-In-Lending form to find your APR.APR is your effective interest rate including interest, MIP and closing costs.If you can refinance the rental at a cheaper rate than the APR, then you should!

You can find cheaper options on some other stuff, but I hope this gives you some Insite as to what money can buy these days. 

I have to choose between a much cheaper market that I live in that is much easier to cash flow, but finding good renters could be more difficult.

It may even take a 3-5 years to get cash flow positive but if during that time it is cheaper to own monthly, than pay rent, you are way ahead.  

.- Someone talked about crime and hard tenants (who don't pay - usually inherited ones)- not many economic opportunities to attract pool of people and boost area etcI'm looking at houses on both sides (Canada and USA) US, they are cheaper like 731 Pine Ave, Niagara FAlls NY 14301 going for $270,000 (5/2, 2700sq ft) but on Can side, it's like houses are in the US$400K - smaller sq ft.