@Michael Lee Gundersen@Donald AleshireAll else equal, local is always preferable for any form of RE investment, provided that the local market presents attractive opportunities.

I tried to stay away from really small markets.Then I looked at what the average cap rate properties were selling for and chose the top 5 attractive markets from my remaining list.

In order to gain control of the property and to have a structure to attract more investors I'd like to have a record of assets that are owned by the company, which becomes difficult when the titles do not reference the company or any relationship with the company.  

you have to tell your buyer, likley illegal not to, but you dont want it blowing up an escrow...... but if the house didnt cause the murders... aka it was an angry spouse, could have happened anywhere, not because of neighbors or a local gang etc.... then price it attractively and people will overcome the ick factor.  

"I thought the high *** grass with broken down vehicles in your yard and torn sheets hanging in your windows was particularly attractive."    

I think what you are failing to factor into your analysis between the 30k home and the 60k+ home is the quality of tenant you will be able to attract for each type of home.

Also a pool house will attract more party guests leading to noise, etc.

You are trying to compensate for your lack of experience with a more attractive compensation model.

I'm not an anti-stock market guy by any means, but I recognize that attractive long-term returns in equities will include a lot of volatility along the way. 

If you want to attract professionals with higher income, have your rent reflect that.