Since companies have a limited lifespan (10–18 years on average), cities must attract new businesses to maintain job opportunities.Factors Companies Consider:Low Operating Costs: States with lower property taxes and insurance costs.Low Crime Rates: High-crime cities deter businesses and tenants alike.Natural Disaster Risks: Avoid areas prone to disasters, as recovery can take years, impacting your rental income.City Size and InfrastructureFocus on cities with metro populations over 1 million.

The question is mostly a personal financial planning question and it depends on your preference and what balance of risk and access you'd like and would be comfortable with.

Caution:  Personal credit card financing is a huge risk and good luck finding 0 percent interest today.

How would you manage risk? 

Well since your an attorney and have taken the lead..

Being proactive ensures you’re always a step ahead, minimizing risks and keeping your business running smoothly.Example: Imagine you implement an outdated tenant screening policy that inadvertently violates a new anti-discrimination law.

In my opinion, making an offer site unseen is not a risk.

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

Look for properties where you can add value with smart, targeted renovations rather than going overboard.Financing Strategy: Since you're aware of the leverage risks, keep your financing options flexible and conservative.

Limiting leverage, for any loan ever = reducing lender exposure/risk.