Phase One is having me move into one of the units (at discounted rent) and have me manage the building from there.Anyway, we have a horrible tenant my parents have chosen to remove in order to both make room for me and remodel the unit. 

The three areas you have chosen have good rental potential and section 8 may be a good option. 

@Josh Mitchell I think you have chosen a great niche, especially if you have potential financial support already lined up.

I have chosen my stragety of buying Duplexes, Tri's, and Quads.

We have clients from around the world who have chosen Memphis as their place to invest!

I feel its important to understand and attain advice about the ownership status and tax ramifications of your chosen entity.

I am in the same boat as you and have chosen to focus on SFR for my first rental.  

.- I have no problem finding cash flow properties in my chosen area in So Cal.

I have chosen this niche for many reasons I won't go into here.  

Carla is clearly not afraid of Foreclosures, and sees the opportunity to earn extra $$$$ & higher returns - especially on a well-chosen property in a strong local real-estate market.David is somewhat more risk-averse / conservative and just wants principal & [most] interest back as soon as possible , and is willing to forego some upside to decrease the probability, however low, of any kind of negative eventual outcome...