If the plaintiff's counsel knows you have it, it may just be icing in the cake on top your personal assets.

Fear of failing, the unknown, which way to go....Walking out on thin ice holds me back.I have become comfortably numb in my career.

IMO, at this time you'd be better off staying closer to the core of the city and looking for value add where you can force appreciate it to get an equity bump, hold for long term market appreciation, and cashflow as icing on the cake.

But my philosophy (and I believe @Nick S. also) that if it cash flows and the tenants are paying down the mortgage and in an area expected to be desirable in 10-15 years or whatever your time frame to exit might be), then it is worthwhile and any appreciation is "icing on the cake".  

If I were a tenant with children the idea of trying to get them in the car, sweep snow/ice off the windshield and maybe have to shovel snow if I have to leave before the plow gets there, that would be a big negative. 

I know you can't assume appreciation and it is just icing on the cake but I would make this clear to him going into it.

Appreciation is icing but not something I'm planning for.3-5 deals closed per yearSo a few questions for the group:1) Does my criteria seem reasonable?

So, I gotta get me first post out of the way to break the ice :)  So, hello everyone!

Not for me but congrats on breaking the ice on your first deal and hope it works out well for you in the end and you come in under budget and completed sooner than expected.

A letter may be a good option for you to break the ice.