@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Kendric BufordRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We take the T12 roll it forward, we strip out anomalies and one-time expenses and then layer in base assumptions and any known large expenses that are planned for the next 12 months.

If we had gone with more optimistic assumptions then it would have been a very disappointing year financially at least.Every market is unique. 

Given your stated position of things, assumptions of skills and network, I'd say your best path is a totally different one. 

(I'd love to just do a regular assumption on these, but I've more or less maxed out the number of houses I can buy in my name already)What I've done on these sub-to deals in the past:1.

I also have two buy-and-hold rental properties and am passionate about exploring unique financing opportunities.Recently, I used a VA loan assumption to purchase an investment property at a 3.3% interest rate, which was instantly cash flow positive. 

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My assumption is it can be done anywhere.

Assuming that this market will rise to the level of "everywhere else" and not inflate in relative lockstep with other markets may turn out not to be an accurate assumption.