The numbers will absolutely need to make sense in order for me to even consider going through with a purchase. 

Make sure your floor is solid and even first.

Sometimes that means exploring markets like Omaha or Austin or even Chicago if the numbers pencil out.

You could easily niche into that via even just the legal realm and would probably never have to step outside of it.

Sometimes we see large amount of equity in a primary residence that can be borrowed against, even in 2nd position if it has a great rate that you don't want to lose.  

The market has a lot of strong points right now: affordable entry prices, great rent-to-price ratios, and high demand for rentals, especially in the Section 8 space.What’s even more exciting is the direction Detroit is heading.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Quote from @Cynthia Lee: Accepting even $1 could be seen as evidence of a payment plan, and the entire eviction process could be derailed.Once you start the eviction process, to not accept any payment unless it is a full payment in certified funds (cash, money order, cashiers check).

Collections are where the game is won or lost, and without proactive management, even the prettiest property can bleed money. 

That's tough to do, even in California.Even if you borrow the equity from your current property, the bank doesn't give you that money for free.