I can see recent pictures of them on the internet at any time and they are all in excellent locations (upper middle class areas of Springboro on the Cincinnati to Dayton corridor, which believe or not is actually flourishing incredibly well, despite Dayton itself being essentially a total dump).

Excellent book, very little fluff.

Brandon Turner made an excellent video about LLC's - look it up on YouTube.

@Alex Smith excellent Alex.

Look for properties that have excellent cash flow, and buy in bigger growing cities where the demand is increasing, so that you can maybe see some appreciation, but don't factor it into your calculations.  

@Michael J RobinsonIt can be an excellent program for the right buyer, but there are a few drawbacks:As previously said, it takes considerably longer to go through the program than just working with a regular loan officerWorking through NACA can be frustrating. 

@Michael Hudelson If cash flow is your goal, then Kansas City is an excellent place to start.

Christina, taking the equity out a property to reinvest in another property is an excellent idea.

I bought my place after the last financial meltdown, so I have plenty of equity to cash flow my house as a rental and I thought about it last year, or an equity split with a friend to get him into being a home owner; but then you have to look at Cash on Equity instead of just cash on cash returns as I have heard David Greene talk about before (just looked it up to make sure and it is in his book http://biggerpockets.com/longdistancebook).I found a facebook video of David talking about the long distance thing, which you have probably heard on the podcasts (probably won't be able to post the link to fb: https://www.facebook.com/BiggerPockets/videos/newest-biggerpockets-author-david-greene-talking-long-distance-real-estate-inves/10155417628854833/)

(Nice quaint, family neighborhoods) I went ahead and recreated the Bigger Pockets calculator into excel so I could evaluate the properties individually but also as a group.