@Jordan l@Jordan Leithart If you're going to invest out of state, my advice is not to choose a market based on the fact that you spend a lot of time visiting family there but base it instead on whether the market fits your criteria and offers the best chance of achieving your overall financial objectives.

They may reject the idea outright, but you need to be prepared to counter their objections right away. 

So he taught me how to operate as a principle not a realtor.

Honestly, I'm shocked that the lease has a provision that the lease can be terminated if the property changes hands.That's a violation of the principle that "the lease runs with the land."

Whatever extra you pay on your loan goes toward principle for that month.  

@Patrick O'ReillyNOI is income-expenses, but the expenses for NOI do not include Principle and Interest.

There is a principle of 217K on the loan. 

I know my reply to this is quite late but the principles of finding and evaluating mid-sized apartments are going to be the same as for small or larger apartments but your management with mid-sized buildings is what will be different.

I agree with the principles in the post, but I think the content is fairly generic and "fluff"y. 

If you are not having to make principle payments, then your cash flow is better while in theory, you are still making money through appreciation.