All the locations Im checking have an income limit of $117k.Is there any self sufficiency test on these?

Are these luxury properties pulling in a proportionally better ROI than the mid to lower range properties?

@Miguel Ochoa Borrow somewhere between the most you can get, and the least you can get by with.Where  you fit in that range depends on your overall financial situation and your risk tolerance. 

Personally, I will be making my first deal in the first half of the year but I am having a hard time deciding what kind of price range and area to start with.

We have also looked into hiring property management, but we live in a rural area and although these companies exist near us we have found that their average occupancy rate is in the 70-80% range, where last year my occupancy was 95%. 

@Chris MartinLooking at a map of Raleigh right now with the last 6 months of sales prices overlaid with what’s currently offered for rent reveals that properties renting in the $1300-1400 range are in areas selling at around $200k or less.

We just made an offer on a 37 pad park with 7 POH's and our initial offer was 11% CAP rate on the NOI and shell value for the homes which range from 91-01'. 

There may be a further due to find out if he can transfer the property title to LLC once the property is paid off (The repayment plan is in 3 years or less) or have it transferred to LLC once the company has had the sufficient time to establish its credit but that would of course mean that we would have to pay for underwriting twice.If there is a blindside to this I am not aware of please freely share your thoughts.2.

California subjects estates to probate at very low thresholds, and often having a Will is not sufficient to avoid probate.These are all things you will want to discuss with your attorney and CPA.

I did some comps on my unit and for a three bedroom, its looks like a range of 1700-2100.