One of the things we do not know is the valuation of real estate and which way its value will go after this part of the cycle is completed.The more economic versatility there is, is a plus. 

We are the last major metropolitan area to get one of these centers - and it's the largest economic development project to happen in Birmingham in YEARS.

You can find better stuff if you put in the time, energy, and money to find the deals off market.

In our area, as an example, Duke Energy has a deal where people can pay their power bills in gas stations, hardware stores, etc. 

I am about to purchase my first property and have been working 7 days a week in order to simply increase my investment energy.

There are 4-plexes in the south end that are well within that price range,  but you will be dealing with a lower socio-economic bracket of tenants that you are probably used to with your townhouse.  

It has also kept me in touch with local economic trends that look like they could evolve into new ways to capitalize on the properties I already own.  

You need all of your business obligations from local vendors, contractors, and certain Team members.With regards to a location be is the southern United States around fairly large cities that are devirsably economically, has growing population, job growth, and to invest in a growing area. 

I agree that over-improvement results in a too-long, pay-back period which erodes your returns, but it does not automatically follow that it increases your long-term maintenance and repair costs.You could take an old, draughty, Victorian building, tighten and insulate the building, replace all the windows and doors with more energy efficient fenestration, and improve the HVAC.  

I like to use a famous person's quote on why learn IRR:"We choose to LEARN Internal Rates of Return (IRR) and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win, and the others, too."