If you want to go the 203k route, pick a place that has a minor issue and use the 203k loan to get the high leverage of that you can get using FHA.

I say pick a market, build a team and don't look back..

A third option could be to pick up a second job to increase your income.

Pick one, and go.  

Helens OR I think this has some merit in your areas were new construction cost out strip what rents will garner plus these are literally bullet proof  :)maybe you grab some dirt there that is not too expensive and set these up maybe like a little MHP type thing.. his 8 plex I believe he is stacking them.. very common in Denmark they stack them 10 high.Also I have been picking up lots in Richmond CA  ( formerly and presently the hood) with ideas of putting these on the skinny lots.

Pick a high-quality laminate or vinyl plank floors. 

The problem is when you are trying to pick a market you have too many choices across 50 states!

You could pick an area that is less expensive than San Marco as well.

So I went and curbsided the trash (It’s close to my apartment and I went to pick up my mail which I started forwarding there after the close) then I text him saying that I curbsided the trash and I was wondering why didn’t he want do it himself, after all he’s been doing it all these years?

They love it because they can pick up cheap properties, and if you aren't married to the idea of a 1 year lease, you can get some really quality tenants that are in town for 3-6 months working on projects and the plants and refineries that are getting paid per-diem.