Particularly in the inland empire/surrounding cities of the high desert. 

I like 3/2 brick or block houses (so I don’t have to paint) and are in the sunbelt (Specifically TX and FL markets with growing populations over 100k) because I don’t want pipes freezing, since we started investing while we were overseas.  

Literally.At the market/economic level, this policy is highly problematic in 2 major ways, both of which are inflationary.

Investing in Out-of-State Properties: Given the high property prices in Manhattan, I'm also exploring opportunities in other states. 

My doctor tells me that I have high cholesterol, clogged arteries, that I am overweight, and I need a bunch of expensive tests.

Ultimately, I thought perhaps folks may have worked with a specific attorney that specializes in this sort of scenario, much like many of us share referrals for professionals that support the highly specialized needs of investors.

As the population ages I think these investments will become more profitable.

Someone with one newer aged rental, who has a rather high income, such as a surgeon who lives alone comfortably with a lot of disposable income, could possibly carry less than a Mr and Mrs just starting out, with one rental that they bought as a turnkey in a more downtrodden neighborhood in a different state.

Zip codes are too big.2) You'd have to factor in Neighborhood population density somehow.

Your numbers and your realtor's numbers are obviously more hopeful than realistic based on the evidence.You are either buying in too high or spending too much on reno.