Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

About me, most of my assets are RE but in another market so I would be diversifying in that market.Potential for appreciation is very uncertain: prices have risen a lot locally lately and are as high as they have ever been, and it’s unlikely higher prices would be affordable by locals.

There are a lot of markets with solid job markets, strong populations, solid rent growth, but when you are talking ONE property, unless you are considering highly rural areas, it likely doesn't matter.  

Highly recommend @Lien Vuong she commented below and has helped a lot of our clients start of expand their investment property portfolio. 

And you get feedback at a level high enough to determine how to proceed. 

Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."

. -- lots of factors to consider (including your personal strategy), but here are a few high level metrics to compare the most populous zip codes in HuntsvilleWelcome to drop me a message if you are interested in checking out the full report 

My income doesn’t show itself as being very high, but I have a relatively large amount of cash to put down.

Community water, and electric are at the street.

If you already have a high interest rate, consider a cash-out refinance with a fixed rate rather than a HELOC.A third option could be to sell.