A balanced approach often works best—consider splitting your cash flow between paying down the mortgage and investing in diversified assets.

Most cities have regular real estate meet ups for investors which is often the easiest way to meet local flippers.

Often don't have to be licensed, but ask.If you are serious about all this, recommend getting your RE license AND pursuing NARPM courses.

How often?

I hit 100% cash on cash return on all these B or C areas and they often outperform my better neighborhood properties. 

I generally recommend if you're not going to buy a property in the city/market where you currently live, the next best place to look is where you have family (and presumably a place that you'll visit relatively often and easily).What is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper", assuming you buy in Peoria or a similar priced Midwest market?

In those cases rent is often only late if it arrives after the 5th. 

I've often found that just going right to the expert in the space is going to be the most direct source of info.

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!