Make sure you understand the area you are buying in, the politics of that community and the weather impacting your property.

As is price point.. this will give you a better long term outcome.if you buy way under median your getting into renter dominated neighborhoods and schools for sure will be bottom ranked.. instead of going East have you considered Vegas.. lowest prop tax's basically in the country. no big weather issues  desert landscape super simple to take care of.. and Stucco homes with tile roofs no big thunder and wind storms to ruin roofs etc etc.. you can buy nice rental house there is a solid B location for about 300k. just worth checking out if you never have..

While the units look to cash flow, for the next 5 years we plan on using that cash flow for any extra expenses over and above what we would forecast for the maintenance, repairs, and capex items for the properties since we already have W2 jobs we plan on keeping for at least the next 5 years. 

Use tools like GIS mapping and data visualization to quickly and efficiently access and analyze vast amounts of data.Predictive AnalyticsUse predictive analytics to forecast future performance and risks.

I've always had this dream of a beach home within walking distance to the beach, so I realize I probably need to back up and look at this more objectively instead of emotionally when it comes to extra wear and tear and higher insurance costs, weather impacts, etc.

I'm mostly more concerned about the end connections and in poor weather conditions (e.g. a strong summer squall or a hurricane) if it will stay up. 

Given the current economic conditions and any upcoming trends you foresee, what are your forecast?

Thus, I ensure to vet the deal to forecast the best (or worst) possible outcome for the borrower and a private money lender.

If a downturn happens and rents go down 15% as well as occupancy, can the investment weather the storm for a few years or will it go back to the bank, with your money being flushed down the drain?

Yardi's Advanced Budgeting and Forecasting module is wonderful and tends to be more accurate because it builds its forecast on all of your historical data.