Community engagement: Homeowners have a greater financial stake in their neighborhoods and are more likely to invest in their local communities.

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

With  one property, a hotel that doubled as a homeless shelter one neighborhood over shut down and has caused problems for the surrounding areas.

What are the current markets you recommend and why?

For the most part vs focusing on a specific neighborhood or two I would say keep you options open to all. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Find a market you really believe in.

First, I recommend you understand the market.

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

If you go this route, consider hiring a trusted property manager local to the area who knows the market well.I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.