Hence, in those markets investors are focusing on how much juice they can extract from a property.

Living in Sunnyvale, I had no idea about this history, now a lot of names here make sense like the C J Olson fruit stand at the mall I frequently go to. 

For me, I think my wife thinks this is just another one of my brilliant ideas that produces no fruit.

Point her to Youtube where there will be some inspirational Dave Ramsey vids to juice her motivation.

Not to say the juice is not worth the squeeze, but I am sticking with long term rentals until the Florida figures out  Here is something about the ordinance in the newshttp://www.baynews9.com/content/news/baynews9/news/article.html/content/news/articles/bn9/2016/9/9/st_pete_officials_co.html

If you plan on prioritizing your list and going after the low hanging fruit, then I would use findtheseller.com.

These type deals are no longer the low-hanging fruit like they were a few years ago, but still possible to find if you're patient.  

And it will juice a good deal to make it great.Seller finance will get you better returns because you're using more leverage but that will always affect cash flow. 

I use to stay away from HOA properties for the same reasons - but I have found in the right HOA's it can be very lucrative - my portfolio is mostly single families but most recently the attached property is performing very well. because you said this:But, unless I reach a point where this can be my primary source of income, I will have to be doing my investing in a way that is at least somewhat passive (because I don't have an extra 60 hours per week to dedicate to the management of a rental property on top of my current job on an ongoing basis).It sounds like your time to dedicate can be limited - even more reason to find some properties that won't be as management intensive - which might mean enough juice to pay a manager or something attached with some of the management covered by an HOA (water, sewer, trash, landscape, exterior, etc).Good Luck!

And let's say that it doesn't rent out as well as I'd like, maintenance is higher than projected, I can easily afford to lose (as the NNN PM) $1,000 per year for 5 years just to "juice" the cap rate.