The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc. 

I have a pretty straight forward return with a W-2 and a K-1 from an LLC. 

Once you go above $125k/unit you start to get into the high end areas that won't have very good rent/price ratios and are under the 1% rule mark for turnkey stuff.Neighborhood wise in the city the "East End" is where the most expensive real estate is since that's where the universities and a lot of the hospitals are located.

Originally posted by @Rod Lambe:Jay,You don’t know how much I value and appreciate your straight forward comments.

I ended up with some rules, couple here:1.Discrimination - Never Rent to Attorneys, Law students or Law Professors.Learn all you can about the Housing Laws i.e.

@Tove Fox You can get a 2-3 unit property in Pittsburgh in B areas that will hit the 1% rule and be in decent shape.

Asking in the correct forum will get a better response.Read the RULES!

Quote from @James Hampton: That's a bad practice to follow.If an occupant is not named on the lease, you may have difficulty enforcing rules or evicting them.

A good rule of thumb is to have 3-6 months of expenses (mortgage, utilities, insurance, etc.) set aside per property for emergencies.

They see a renewal of the current business tax rates, regulation and permitting rules getting slashed, tax code being simplified, and federal deficits on a one-way ticket down the elevator (which are a longterm drag on economic productivity).Just look at the growth in tax code complexity over the last 20 years.