Also look at the area as well in terms of how attractive it will be for people to rent out your units. 

They're affordable enough to allow good cash flow, while also attracting decent tenant quality.

It is normally the real estate that attracts the nuisance tenants which leads some to resort to section 8 believing its a cure all which is the furthest from reality.  

It makes your house more attractive and reduces vacancy.

However, I constantly see syndications advertising very attractive return.  

The property has an amazing creek canyon (attached photo) is 5 miles from all the major attractions to Yosemite, and 7 miles from a lake.

The property is located in a mid-size city with several attractions nearby.I understand that management fees can vary by location, but this property management company charges 20%.

The ROI is attractive at 16%, but ensure ARV aligns with recent comps given market trends. 

The higher credit is attractive, but what if the couple's income is 3.2x the monthly rent and the single woman makes 6x the rent?

Of course "hoping" rates will come down is not a sound strategy so finding a way to assume a loan that already took advantage of low rates is a great option.If you were starting over and targeted a large SFH, would you try to maintain the property in a way that would still attract regular homebuyers (not investors) if you needed to sell?