Have a home inspection done by the most notorious and excellent home inspection company in the area before listing it, fix anything that comes up, then include that inspection report and the list of repairs with the packet available to potential buyers (and market the heck out of the fact that you've already had it inspected by XYZ Inspections co) = peace of mind.3.

HOA Boards are notorious for rules that favor them and not the regular members.

HOA Management companies are notoriously hard to work with and frustrating to get ahold of.

And the metro area has barriers to entry, in regards to building housing such as a notoriously slow permit process, environmental constraints, geography constraints, transportation constraints, etc.

@Pamela LEE REO agents are notorious for poor service because they are often on a super low commission structures with the bank(s) in return for repeat business.

I would assume the day you move out a property you can no longer be legally refinanced as an owner occupant, but maybe there is some sort of grace period or lenders that are notoriously lax in checking on these details. 

That alternative is increased EFFICIENCY.The government is notoriously bad at doing things efficiently (we all joke about the DMV, but it really is pretty indicative of how the government runs things).

Avoid lenders/investors whom notoriously put restrictions in their approvals.2.

Too many reasons not to invest in those areas, cash flow is generally wonderful but several of these areas include tenant friendly laws, laws that generally make landlording difficult (i've heard Detroit is notorious for these) plus my biggest problem when I looked into Detroit is you cannot control what people do around you, several properties I looked at were on "ghost" streets and no one to be the only one to live there, another problem being alot of the houses are so run down they're realistically worthless, when the cost to put a roof on the house cost more then the house, most don't make needed repairs.

At least in my market, things are very cyclical (or at least ever changing)...There will be periods of weeks or months where we find it difficult to find any properties that meet our criteria (this often happens during the summer and around the winter holidays) and then we'll see weeks or months where lots of great deals hit the market without much competition (beginning of the year and September/October are notoriously good)..We now try to buy as much as possible during the "good" times, and don't stress about the lack of inventory during the "bad" times, knowing that things will soon change.For reference, the past two months have been pretty good in my area -- we've purchased three properties and have a couple more we're currently negotiating.