As a newbie, one of my biggest fears is underestimating repair costs.

My biggest perception of value was dressing the front elevations with front porches.

Need to make sure you're taking everything into account- underestimating turnover expenses - this is likely your biggest expense on an annual basis.

- the biggest advantage is the access to MLS and basically being able to replace my "day job" sooner (hopefully).

So, I think the biggest advantage to buy and hold in a rural area is that the cost of the properties are lower in general.

In my research, one of the biggest things that has jumped out to me are the "out" or "escape clauses".  

One of the biggest things to keep in mind in Canada is that mortgages have to be 'renewed', typically every 5 years.

@Kevin Pfeiffer The biggest price demarcation in my town, North of Boston, Massachusetts (mostly Owner/Occupied) seems to be in # of bedrooms, However a town down in Cape Cod with a high # of rentals seemed to have a jump in prices with an increase in Bathrooms (both Full and Half).Without knowing your town,  I like your idea of another Bedroom and a Half bath.

., more then $30k) to help save for down payments on invest properties.Leading a life with balance (not working all the time) is important to me though and my biggest fear is walking into a job with the same hours that I had before.

Have lived in Laguna for many years, worked OC real estate, and there are no more Lagunas on tap either.At Strategic (in Agoura Hills, cover SoCal from SD to SB & Inland Empire), where I work, we concentrate on buying distressed properties at auction (second biggest buyer in SoCal), and, after many decades, have made our "mistakes" long ago.