Equity/appreciation (and tax benefits) are important, but you need enough cash flow to be able to stay in the game.3.

A the town and amenities expands towards the beach, there is a real risk that properties on town side will relatively lose value in my opinion.

The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

As part of the Tenants benefits we include HVAC filters quarterly via mail for them to replace.

Also, knowing the tech terms for a project benefits u bc guys will know you know SOMETHING about what is involved. 

Airy, East Falls etc) and check if it is relatively safe.

Hi Edward, I agree that investing in the out of state market may be a better idea in terms benefiting from potential cash flow at a more reasonable price. 

Before I give my answer I'm making the following assumptions- Your credit is decent, you have stabe income and make decent money; your debt to income ratio is relatively low. 

You can dig into cash flow projections, tax benefits, ROI calculations, etc.

Understanding the market trends, neighborhoods, and property values will greatly benefit you in making informed decisions.