That's a deal I'll make any time.I couldn't put an exact number on how long it took or how much interest I saved, but within 10 years of starting this process I had paid off ALL OF THE RENTALS (including the 1/2 interest ones-3 of which had been purchased with cash initiallly) and had a postitive cash flow from REI of close to $10K/month.With that kind of cash flow you don't have to worry about variations in job status, loan qualification, or anything else.

Go with what you know; a well defined criteria with little variation

@Jay Hinrichs  - You saw where I was going with my question :)  We have two rental properties in TN that are variations of the 2% rule but I'm always interested to hear about appreciation plays and how people find/decide.I haven't looked much in PDX - only because I've been focused on TN acquisitions, but deals in that market aren't nearly as great as it was in 2011 when we first bought there.  

Would some variation of Karpinski's "How to rent vacation properties by owner" work for a normal long term rental property?

I am sure there is some variation to the requirements in Arizona.

@Mark Creason  I think I would like the variation in the granite also.

They are both knowledgeable in real estate law and LLC formations.I would think that it would be best to hold the real estate investments in a separate LLC (you can always chose a variation of your current LLC name).

The seasonal variation makes it hard to use this as an indicator.

I believe the method I am trying is some variation of BRRRR.I would (house hack) live in one unit and rent the other(s).

There can be so many variations and reasons...I am a newbie so other posts are experienced and more accurate with their warnings...set your limits and stick to it for your own personal sanity...and safety...!