Removing all skills from the equation, if you don't take a break from participating as a real estate investor in some way each day, you will stay far ahead of everyone else who keeps subbing themselves out and then asking to get back in when the game is already out of reach.I respectfully and emphatically disagree.

So I'm thinking a good target will be around $30k/month to replace both of our incomes and live how we want to live, respectively. 

For any value add project, the primary evaluation is based on the numbers.Provided you have trustworthy teammates for the renovation side and a competent agent on the valuation side, you'll perform no matter the location.It seems your weighing factors that relate more towards long-term investing and where your asset will appreciate the most.In respect to emerging markets, you'll want to use characteristics like population growth, employment growth, safety trends and path of progress.

@Michael Lyons thanks for the insight but I respectfully have a couple holes to poke. 

If you understand how to screen very well, communicate with them respectfully and can somehow understand the dynamics of the community, you will be ok.

However, this is not the case for in-town ATL neighborhoods if you're interested in those respective markets. 

Your GC will know how to apply for the correct permits.Avoiding the issues in the future is a function of respecting the permitting process in the first place.  

If you get your system and modeling down and follow what I mentioned above with respect to coming up with your strike price/offer price, you shouldn't look back if someone overpays for the property.

It can make leasing a bit harder since you will have more vacancy when those come do but it will all be in peak season.With respect to the hiring decision, you would need to hire someone to replace you (perform the same functions you currently perform) so that you continue to work up the ladder (spending more time on higher value tasks).  

But, I respect those opinions, and although my experience may differ from those posters, who’s to say who’s right or wrong?