After listening to many, many BP podcasts and reading a couple flipping centric books the last couple weeks I am super excited to be taking the next step and getting involved in what seems to be an incredible and diverse virtual community of like minded folks. 

We have a very diverse group of investors and there is always good discussion.Personally, I think London is an amazing market to be buying in right now.

It may more like a single industry town compared to most large more diverse cities.  

It is a modest, diverse blue collar town.

We specialize in single-family homes and work for many diverse owners globally.

No wait, don’t answer that, i’ll start another thread)Vacancy Buy in markets with strong fundamentals (pop growth, job growth, job diversity) Buy in good quality B class neighborhoods that would maintain renters even in a downturnSave 5% gross rents for vacancySave for inevitable lease up feesRent Prices Drop My numbers predict i could stay in the black even with a 10% drop in rental prices (see example below)Other At time of purchase i set aside 6 months of gross rent in cash, for reservesSample PropertyThis is a sample property is actually more like a higher c class, but i you could move the numbers up higher and see the same thing with a B class SFRPurchase Price: $60,000Closing costs: $4,000Rent $900Vacancy ~ $45(5%)Maintenance ~ $45(5%)Capex ~ $125Op expenses(tax, insurance, lease up, mgmt) ~ $162NOI ~ $522Mortgage: $261Heloc: $68(at current rate) - $160(at highest rate)Cash flow: $193(at current rate) - $101(at highest rate)I'm a little scared to ask this, but better burned on BP then in real life, so here we go.What am i missing or what did i not think of?

It's worked for me so far.I am very diverse globally with my ETF's

There are two large towns within a 10 minute drive down both sides of the highway with a diverse range of employment opportunities from high schools to hospitals, industrial jobs, shopping centers, etc.

Is this an area with plenty of diversity and healthy/growing small businesses, or is there ONE major employer that basically controls the destiny of the community?

It would help if you mention your price range, btw.Of the towns you mention as goals, Lexington probably has the greatest diversity of housing stock and prices.