But even with a good location in San Francisco, the price point is so high for homes that your pool of prospective tenants will be very very low.

Just be careful of blind pool funds.

We painted exterior/interior, installed Stainless Steel Appliances, New kitchen/bathroom/light/door fixtures, crown Molding and Kitchen Backsplash.ExteriorNew Exterior paint, carpentry/masonry repairs, new community/gym room, New landscaping, driveway fixes, plumbing leaks repairs, new pool resurfacing, new roofs where needed, water heater replacements, new water softeners and security systems.Property ManagementUpon takeover, the property occupancy dropped from 89% to 77% within 2 months.

What's key here is that the most significant tenant pool in these areas are working professionals/grad students who are being outpriced in Back Bay, Southie, South End, North End. 

We all ready own similar properties and we have systems to manage the demands which comes with this tenant pool. 

Is Sarasota a good place to invest in a pool home?

I'm interested in sub 40K condo's located in the sunny states. 

Availability of inventory and pool of buyers will tend to dictate demand. 

My question(s) are:If for example i pool 5 properties together into one loan, and decided to sell one unit, I would have to either (a) refi out of that loan and kick the property out or (b) sell all 5 properties in one deal?  

Location is a huge determining factor because the difference between a nice and reliable tenant pool and a bad one can be a matter of a few blocks.