the only way you see things eroding is if jobs pull out and people stop renting.. can it happen sure.. will it who knows depends on the area but if your in a one horse town and the horse leaves could happen.. diversified economies are good for a region.. 

Never been there AH  you will no doubt love it or at least your wife will I bet... go by  7  New st.. the horse carriages go by there That's one of my new builds if the contractor is there his name Is Troy and tell him your a friend of mine and he will show you through..Also if you google  8 Woodal  go check that little street out I built all three of the new builds there .. and they are pretty cool but it gives you the idea of how things were 200 years ago with these tiny tiny streets and then you can appreciate how difficult these builds are with no room to move..  

I would recommend talking to Lexi at Iron Horse properties.

 Not to beat a dead horse but I’ve had some replies to my former discussion, which indicates to me that in my quest to find my first flip property, not counting the last two houses over the last 4 1/2 years that I have successfully turned over for a profit using 2 30-year conventional loans, I can actually purchase a property using my S Corp.The only problem is,  I would need to live in the property that I am fixing up, as I currently do not have a permanent home-base.

He was really pleased with my communication and apologetic that he had 'put the cart before the horse' so to speak and said I'd be the first to call when he is ready to sell it. 

Also, starting an LLC for real estate before you've really begun tends to be an issue of putting the cart before the horse.

Is there anything I need to be careful about other than obviously not discriminating against race / religion / nationality, etc?

Sounds like you're trying to put the cart before the horse.

I'm moving into a lower income neighborhood where there are corner stores in between houses and folks sitting on their stoop during working hours, and the crime is lower there than the city I live in with 500K homes and horse farms.

This may be too slow of a strategy but at least for me, I'm going with slow and steady wins the race.