However this last tenant left our unit in a very damaged and extremely filthy state that took considerable work to remedy (which was a surprise because they had been pretty responsible until this event). 

A couple of points for your consideration: - Are the markets with the most rent growth and price growth the exact opposite, in some cases, of the best markets to invest in now? 

Analyzing market trends, evaluating properties, building a team, staying updated on legal considerations, and using technology can help manage leases and payments.Good luck!

I'm taking all of your pointers in consideration as I plan my next steps.

Legal Issues: Disputes between buyers and sellers can arise, leading to potential legal complications.Important Considerations: Contract Terms: It's crucial to have a well-drafted land contract that clearly outlines the rights and obligations of both parties.

Thank you very much for your response and consideration.  

What follows will probably sound somewhat pessimistic - but I put it out there for your consideration...Understand that your journey will be a long one, as real estate is usually not a get rich quick game.  

Projecting the growth and thus desirability and central location near the local market prime drivers is an important consideration.  

After long consideration, I have finally decided to purchase an investment property.

First of all, do you have any experience in any of the use considerations you have?