This implies the higher ratio areas actually produce lower cash flow over long holds.- it does not forecast rent growth or appreciation into the calculation.Those are not areas i desire to invest.  

Like others have mentioned, there’s appreciation, depreciation, leverage, and tax benefits that produce a compelling risk adjusted return. 

You anticipate that the winners provide much more profit than the losers, and you end up with a portfolio that produces a double digit return + a “salary” for your active participation over time. 

There is a case for buying well-located solid assets that produce immediate current cash flow at reasonable leverage. 

It should be producing far better return than the passive s&p to justify the effort.Good luck

However, you will find it difficult being that both of you are W-2 with your main activity to produce income being outside the real estate profession.

Are you taxed on the net or the gross income produced as a non-resident ?

You can make checking accounts for the deposits but I prefer Savings accounts because it produces more interest that the landlord can keep here in NC ;)

You could get workers for USD $3 per day to cut brush.Local produce is relatively cheap. 

Rent ready in leveraged RE in this market does not produce returns that meet my expectations of return for my effort.