Exit strategies are typically, refinance into a long term loan and hold or sell it for profit.Cheers!

I accept the need for a competent PM and the reality that competence typically ain't cheap.

Current HELOC rates are typically 8-10% depending on your credit and lender, though some banks offer promotional rates.

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.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?

Pace is a typical guru.

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

Typically when people graduate they look for a job and move to the area of the job.

Typically, higher income areas have lower crime, more amenities, better schools.  

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend 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?

However, a wall sitting on top of conc. is not typically allowed however, there are work arounds.