Today, @Noah Bacon published an interested article to the blog that got me thinking - large apartment buildings often offer concessions - like first month reduced rent, or sometimes even referral programs.

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

With regard to the proximity to the beach, I tend to have a beach distance of 15 min or 5 mile rule, whichever is less. 

In beach markets, in ground pools tend to increase revenue 20% or so. 

There are a couple REIAs in the Tri-State area, but none of them are backed by the power of BP and the incredible people that it tends to attract.

I own 12-doors in Detroit and 3 of those are rented to section 8 tenants.The best areas for S8 tend to be C Class neighborhoods.

The tenants at that price points tend to be more picky and will require more attention than a tenant in a 1500sqft home would.

They tend to be slightly better deals than what you might find on the open market.

Quote from @Lolo Druff: I've heard horror stories about awful property management companies and am looking for a REFERRAL for a trusted source from an investor.

The area is relatively stable, and the housing market tends to be less volatile.