My time horizon for each property I consider is either one, five, or ten years.

We have not problem getting them rented.Windermere is for a little more affluent, but the west side (Horizons West) is growing like crazy, great time to get in a ride the upside, same thing in Lake Nona.Winter park is beautiful and very established and is a mixed bag of rental pool.

So your question of where to target really depends on your investment goals, your time horizon, your capital availability and financing options, etc.In my personal opinion, I would advise you to stay away from student rentals in Philly.  

Of course there will be a few who will advice you to put money into your 401k insteadYou still have a long career and time horizon ahead of you.

Maybe you've spent too much time in beautiful LA and need to expand your investing horizons ;0.

Any proposed changes on the horizon that may affect landlords in the near or longer-term, i.e. property tax reform, civic measures, building projects etc.Thanks!

One more thought: If you have $130k to put into a SDIRA now and can toss in an average of $6,000 / year over a 20 year horizon then you can probably get to the 5 properties level without leverage (depending on assumptions of growth).

Tons of big economic projects on the near horizon that should really improve the real estate landscape.

The sky may not be falling, but, there are things on the horizon to start noticing.

I hope that buying OOS properties with reasonable rent to value ratios and a buy and hold time horizon will work out even through a down turn of the economy.But yes the chance of things continuing up the way they have been going seems increasingly unlikely.