The cash flow first, the appreciation to be the icing on the cake"  this sentiment is one of the worst I see on BP not sure who espouses this and why all these investors say the same  thing but that's really a recipe for disaster for the investors.If your leveraging RE to the max U know 20 to 25% down . 

Since you will likely buy one at a time, work “upstream” to find problems earlier, sift and sort, then work with the prospects that show promise.

Consider how your property would do as a LTR and underwrite those numbers (worst, middle and best case).I am very happy with my investment but it has been a lot of work and many challenges managing it from California.

Also most townhome developments are part of some sort of HOA and if there is an HOA they will definitely not allow you to form a condo within the bounds of their HOAFeel free to reach out if you have more questions!

They have all sorts of problems now. 

Auctions are quite possibly the worst place to buy if you want to avoid repairs.

Hire a manager; is that similar to a property manager of sort but for senior living?

Anything over that could mean that the property is overstaffed, or it could mean that management is delivering a very high level of service such as in a luxury property that has a doorman and all sorts of staff that you don't typically see in garden style apartments.

I'm specifically interested in "main street" properties with a downstairs retail space, upstairs apartment(s).If you know of anyone with this sort of experience, I'd REALLY appreciate the connection.

If I were in your shoes, I’d consider a few key factors before diving in:1.Risk Tolerance:Ask yourself, “If the worst-case scenario happened and I lost this money, could I recover?”