If you're investing remotely I think the right property management company is just as important as the market dynamics.

When you charge by the week (as opposed to a weekly payment schedule based on a monthly rent) the dynamics are different... beginning to feel like a rooming house. 

Odds are you could have the same dynamic in this property.I think every invest has to make their own decision about cash-flow vs. appreciation potential, if you want to drive to your property or are happy to fly to it, if you’d rather spend $750K on 10 units or one SFR.But for whatever it’s worth, I’d posit 100% of investors look at deals and say: “Oh this looks like a good property if only it were 20% cheaper!”

Both cities you've chosen are great for that but definitely different dynamics like William mentioned. 

Hopefully, if you buy right you may even have some residual equity post your renovation on your FHA Multi Family, you can even consider using some of your equity in a equity line position play or you experience enough growth coupled with the equity that you can refi to a conventional 15, reduce your interest responsibility, get a more favorable rate and climate your PMI, this is a little more complex and requires an intricate series of ballot steps to achieve the ultimate outcome, but very doable.Much luck with your accession and renovation. 

Thinking only of the upside and not the downside risk; not understanding the dynamics of how to maximize the former or protect against the latter.Being greedy when others are greedy and fearful when others are fearful, rather than the other way around.Trying to blindly copy strategies that they heard worked for a friend of a friend of a friend in a different market a year ago without thinking through and understanding if, how, or why this strategy works (or not).There's more, but these are the common ones that come to mind ... lord knows I've been guilty of more than a few :)

I would have thought it was more intricate in initial choice.

So part of that dynamic- the turnkeys from the turnkey providers- might be why you hear a lot that people don't go see their properties before buying.

A lot of investors like probate, but when you are dealing with grieving families and all the dynamics, I would expect that this is a list where you will have a much longer turn-around on decisions.Have you thought about other target audiences such as Low Financial Stability?

Like I said, I've been researching this for a while and I'm ready to make a move, and my move does not hinge on this exclusively of course, but I am very curious about this aspect of the rental property dynamic.