.: Quote from @Jon Parks: How in the world is anyone being optimistic about this situation? 

So that rules out areas like City Heights / Skyline / etc.4) Parking - make sure you scope out the parking situation before you buy.

Vacation rentals are usually much nicer, are close proximity to attractions (beach, mountains, lake, theme park etc) and have nicer or more ammenities.

In my devious mind, I thinking like you that I hire a parking attendant, install gates and charge an entrance fee if I bought it. 

He parked his car, and ran up on us with his arms in the air yelling "dont shoot me". 

So picture this @Kevin Rodriguez, someone strolls up to you in grocery store parking lot and says "Hi, nice to meet you.

If you are in a good park it might work but your other issue is that many are over 55 communities. 

You may pay 1.5m and up for a good one, likely more if parking and balconies, but the play is to buy a multi and then wait and in a few years, turn them into condos and sell them separately - that's how you make the money there.

Those buying close to the city are either breaking even or taking negative cashflow and banking on appreciation (or buying all cash and parking money, ha).If you do consider Lowell, I'd also recommend you check out the Fitchburg/Leominster area as well.

Our rent-by-the room residents appreciate a lockable bedroom door, a private bathroom, sufficient on-site parking, a large refrigerator and a large washer and dryer (in order of most to least important).