The one main theme I have seen over the years and in my current role as a funder of these assets in the wholesale condition before they are bought by out of state folks.. is that OOS folks really need to concentrate on the better properties in a given area.. where I see heart ache is when they try to buy super low value homes IE the cheapest homes on the market in a given MSA.. not realizing that the tenant is also the hardest to manage.. just moving up 20k on the purchase will put them in a much better position to have a decent tenant and in an area that is not so tough to own in. 

As well as the large concentration of aviation and aerospace companies.

Regarding the roofs, most of the hail issues were concentrated on the NW side, and roofers have been working non-stop to make repairs.  

Buying a second home in our neighborhood mean a majority of our wealth is concentrated in two properties in one neighborhood.

It sounds like you and your husband have already identified a niche you'd like to concentrate on: MFH investing.

The economy is so diverse our risk of a major localized recessions is much lower than Charlotte (too concentrated in banking).

If not then giving yourself 4-6 months for your search instead of 3-4 months increases the likelihood that you'll find a 95th-percentile+ deal.And the next thing I would start thinking about is where you fall on the spectrum of investing for cash flow vs investing for appreciation, as this will be one of the many factors that inform what neighborhoods / cities to concentrate on for your search.

A weak job market may be  a reason to not concentrate and get 10 untis in that area, but I don;t think it rules out starting there.  

It depends on what kind of deals I can find and what direction my conversations with those more experienced leads me.Open to any suggestions on debt reduction vs investment as far as which should I concentrate on first. 

I'm currently concentrating on higher-end houses here in the Bay Area that need a short sale in order to get them moving.