Confirm they will wave any import duties.  

My strategy since 2009 has been to go into markets early (even first) and ride the wave up.

Unless you are waving your fee, it's actually a $60,000 plus closing costs ($3500 + or -) investment.

@Megan Elliott, There's no statutory holding period. 

Definitely.Trying to go OOS for your first REI deal is a bit like trying to surf a monster 100 foot wave before you've learned to swim, or trying to ski a double black diamond for your very first run.Fortunately, there are simpler strategies that are much better suited for a first time RE investor (house hacking, specifically).

@Brandon Elliott, yes this can actually be a very strategic decision by you. 

This will be a tidal wave of defaults because most of these apartment dwellers are already maxing out on rent at 40-50% of their pay.

also personally i am expecting a new wave of migration to texas from california due to these 500K white collar job losses in California, either they move to sacramento/seattle/vegas/texas or go to India.... if there's new uptick of migration to texas that would absorb the supply, but how fast it is, good to see... 

Keep using Quickbooks for your business and use Wave accounting for personal use.

But another lesson was taught in knowing my own limitations, and not diving into every single deal even if they were bargains waving right in front of you.