@Maegan Quaife, Of the 4 prongs of the Internal Rate of return 2 of them are very high for you - cash flow and amortization of the loan. 

I generally rule out most single family homes as viable rentals, as prices are pretty high relative to rents, so aside from some downtown neighborhoods, typically you do not find large areas of single family rental neighborhoods (a median sale price on a 3 bed, 2 bath home so far this year in Dane County on MLS sales data is at $430k). 

Any way around paying the very high property tax, school tax etc. in SC?  

My sister recently moved to HI, and I figured that might be an interesting market because of high rents and HCOL - although also high property values.

For instance, someone making $500k a year and living in a very highly appreciating market might be extremely happy on a deal that loses $200 a month but is getting 5% appreciation on a 2 million dollar property in San Diego, butut that doesn't make sense for the investor with 30k and a lower paying job.When it comes to the book series I agree with you that the order doesn't make sense (having read both).

It the accessment is too high and the real estate taxes as a result are too high, the net will be less. 

I don't see how they could, since things happen... but again, granted there is no guarantee, these companies are claiming such high averages and they have such huge portfolios and good reputations, so it makes me wonder.

One thing I think I would do is either hire a professional market research company and/or get a local high school or college marketing class to do market research and surveys to see if there is interest and demand. 

I have a some of high interest debt I used to start my business along with some personal debt I would like to pay off.

I added a bedroom to my two bedroom suite due to high demand last year.