I personally would never invest somewhere that could outlaw rentals.

If you are looking at FHA because of credit score, then I would work on credit scores to qualify for conventional financing or see if you can get a very strong coborrower with high scores.  

Any local bank that does this kind of financing should be able to approve you as long as you have a good enough credit score and never declared BK.

Avoiding accessive PM fees (personally I recommend most people self-manage)These will eat away at your ROI.

If you make the person an LLC employee you can get around it, but partner does need to be careful. 

Does anyone have personal experience with specific scrutiny of a logbook during an audit?

I am still personally buying rentals but I am not expecting much in the way of cash flow at the moment.

We are now at 21 doors under management and 3 are personal units that we self manage.

Would love feedback from anyone with personal investing and/or property management experience in these cities.

I'm going to exclude my personal residence from this because I don't view this as an investment, I need a place to live.Excluding my primary residence my current breakdown is 47% real estate 53% stocks/cash.