But it seems changes start to gradually take place and a lot of old houses are being renovated and upgraded.

Rent prices have gradually risen as well.  

You could end up with 3 vacancies,, Might be better to gradually raise the rent.. $90. to 100 and in next six months the balance. 

Are property taxes usually increased gradually or can they jump up significantly all at once?

And the loan rate can only move up 2% per year, so there is time to gradually push the increases through your leases.

I don't want to hijack this topic but this Cash-Flow vs Appreciation debate , buta) does have proponents for the other side of the coin.b) cash-flow comes monthly if you bought wellc) appreciations is gradual, annual if at all and can not be guaranteedSo both opinions are presented to the OP and let's not rewrite War & Peace over it.

He believes and I think he makes a great point of this, that the "peak" will be more of a pause before the markets recovers and continues a gradual climb upwards.

I'm planning to start off with 1 property, and then gradually build up a protfolio as I get more experience and confidence with investing long-distance.Based on some preliminary reasearch (a lot of it from the forums here), I've narrawed it down to 3 cities: Charlotte, Dallas, and Provo Orem.

Properties in these markets may offer less appreciation potential than high-cost areas, but they can still build wealth over time through rental income and gradual appreciation.Good luck with your out-of-state investment journey!

After a few years, and after my career continued to gain steam, after my properties produced more and more stable cash flow, and my reserves grew, I'd be able to gradually invest the entire lump sum, in between 3-7 periodic investments, hopefully preventing me from buying all at once at the wrong time in the market (almost no one can successfully time the market).