I’ve since seen many red flags that things are not as they should be.

Quote from @George Red: I just don’t want to eat the unit turn costs.This is just my opinion.....but this fear of 'Unit Turn Cost' that a lot of landlords talk about is not good business in the long-term view.

I rocked a Garmin Edge 520 for years but recently upgraded to an 830.

People know what you're all about, unless they are have lived under a rock, There is always the day of closing, when you decide to back out of the contract, leaving the sellers hanging.

@Greg Pond I certainly am no expert in purchasing a PM, but I do pick out red flags easy and with your numbers you provided on 40 doors, that means those 40 doors are renting for 200-250 per month roughly?

If you keep going east places like Little Rock or Memphis will cash flow with less down but these markets won't appreciate as quickly as TX. 

You would just need to come up with another 100k or so.If you like truly passive real estate and don't mind risk, you can go half on a hard rock hotel property in San Diego.

Places like Memphis, Little Rock, OKC or even Tulsa are great options.

If they sound not professional, then obviously that's a red flag. 

Last thing I'd want to do is rush into a property, miss red flags, and end up getting in a bad situation.Is a rehab in a C class neighborhood (which is what it would likely be) a bad idea for my first property?