While a smaller office or single office may be financially more economical, a larger firm will have more diversity at hand.

Keep some cash in reserve, and keep your money diverse.

Davenport has a growing population due to it's business friendly climate and has a diverse economy which is something I always look for when evaluating a market.

I appreciate the diversity of thoughts here on how to handle the situation.

I suggest building your portfolio up to 3 to 5 properties there, then diversifying into other geographically diverse markets.

There is nothing wrong with having some diversity in your portfolio.

That zip code covers a diverse area including the coveted San Marco area, which is great for high appreciation and is in demand for rentals.

Tax rateSchool districtCash flowAppreciationPath of progress / projected growthNeighborhood class (A, B, C, D)Purchase priceCap rateCash on Cash returnThere are a lot of variables than can help hone in your search, otherwise it's a shotgun approach on a rather large and diverse metroplex area. 

The main concerns I have with long term buy and hold strategy in this area are:Because the neighborhoods are so diverse, and one street to the next can have a completely different ambiance/class, does that make for volatility and instability for long term buy and hold?

Look for markets that have growing populations, growing jobs, modern, diverse economies etc.