Plus, if the property is in a desirable location, you may have little trouble finding tenants.However, there are potential cons to be mindful of.

Pros include securing the desired property and strategic planning, while cons involve higher costs, financing challenges, and complexity.

So the real answer is do what's comfortable for you and what makes sense based on your own financial position, your age, your desired outcome, and your local market.

It's all about the location, you might be able to buy a cheap house, but if it's in an area with nothing but other cheap houses and in an area that is "not desirable" you're not going to make much money on it, either in improvements or rent.

The difference would depending on your exact deal though, each of those are weighted differently. 

It’s obvious the tenant is a total PITA and has zero desire to deal with all of your rules.

I am profitable right now (cash flowing between $1200 and $2500 per month depending on the season), but don't have any desire to raise my monthly payment with a cash-out refi (nor am I likely to match my current rate).

.- it does not forecast rent growth or appreciation into the calculation.Those are not areas i desire to invest.  

I have many questions and I've narrowed my desired locations down to Hornell, Corning, Bath, Horseheads, Elmira and or Binghamton.

My point is cash flow is only one source of return on RE and in my opinion the least desired because it gets taxed annually.