NJ is a big one—places like Newark, Paterson, or even smaller towns have better cash flow potential.

In fact, some of them have been in the news lately and popped up on the foreclosure list as they are in trouble financially as well. 

Quote from @Danth Aman: Quote from @Victor Patel: I don't see a problem with this as he has disclosed his financial interest in the property and him being a licensed agent. 

Once you go with a minimum 6 month lease your turnover costs, potential damage, make ready costs, repainting and repair costs, all go down dramatically.  

.: Any idea how far south the potential for Santa Ana or similar winds goes?  

We could build larger, but there will be less Buyers and the home can potentially sit for longer and holding costs get expensive.Not saying building larger is wrong, but just giving you our reasoning for our home size.But I do 100% agree with you. 

I would think a lot more about the financial part of this.

We have honed in on a great property with tons on potential here in Richmond, VA.

I wish I could say that I'm venturing into real estate investing for some benevolent purpose like providing low-income housing for the needy... but financial gain is certainly my angle lol.

What financial targets do you have?