The location defines all long-term income characteristics, including whether your rents keep pace with inflation, the total capital required to acquire sufficient properties to maintain your standard of living, and how long your income will last.There is a straightforward location selection process.

Look for low condo fees (if the people on the board are solid, and there are sufficient reserves).

Note it will take time even if/when sufficient money is allocated.  

Another unfortunate situation with a lot of these sorts of tenants is that they are "judgment proof", meaning, even if you were to sue them for damages, they do not make sufficient income or have sufficient assets to collect on your judgment.

My goal is long-term appreciation on a property w/sufficient cash flow to make a long-term hold practical.

Too many of you are not sufficient to truly be investing.2) Learn what your goal is with investing-- if it's "financial freedom" realize that'll take 15 years plus, at least, or a massive windfall/luck.

Downside on FHA is the Self Sufficiency rule where all units, taken at 75% of gross rents must at least equal the total mortgage payment including property tax, home  insurance and FHA monthly mortgage insurance.

We've purchased many apartment buildings all over Louisiana and the most shocking expense to make sure you underwrite sufficiently for is insurance.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.