I want to stick to the 2X deposit, but wasn't sure if many have had success with that in lower income areas... like many things, sounds like there's diversity in practice.

@Dave Foster I can appreciate the diverse set of investments you've explored.

So check the median income per person, unemployment, single mother prevalence, racial diversity, vacant property rates and property and violent crime.

A diverse and growing economy?

Leasing to the second store would hurt the first one and would reduce the diversity of the tenant mix. 

They never tell you this in the get-rich-quick buy-and-hold seminars, but there are simply a LOT of people who do not have and don't want to acquire the mindset and diverse skill set of a quality property manager.I also tell new investors to go through your first eviction with your lawyer.

My whole family is diversely in real estate.

The terms/conditions are a huge flag as already pointed out, but the accent shouldn't be considered a flag if we ever want to get the mortgage lending industry (both private and institutional) more diverse than it is today.

I'm looking to diversity out of CA real estate market into mid-west / south / south-east and am looking at Indy specifically.

Look for markets with affordable homes, growing populations and jobs, and diverse industry.