The tenants can also use the online portal to view their full payment history, submit maintenance requests, and view digital copies of their lease documents. 

To me, I would need a pretty good idea of at least high single digit appreciation for the next several years on this property for it to work.

Not a show stopper, but you need to consider this in your business.If it was easy to sock away $200K and produce a double digit return, a bunch of people would jump on that opportunity.

More and more renters driving demand and rental rates up.http://www.biggerpockets.com/forums/52/topics/59075-double-digit-rent-hikes-are-on-the-wayI'm normally not a big fan of investing out of one's area, but I make an exception for those in areas that just don't cash flow well.

I dig it.

before 2007, i bet any $ most of the guys on here were factoring in appreciation on their rentals. now, the tides have turned and they have turned ultraconservative. btw, j scott said there was no way we were going to see a double digit appreciation for a "long time" and it happened 2 years ago. not saying anybody can predicte the future but still...anyway, if you can't factor in appreciation then that's the least of our concerns...cuz none of us will have any jobs. :)

@Andrew Schultz  is another friend of ours who is very familiar with the idiosyncrasies & PM of Buffalo.Personally we are predominantly in Niagara/Orleans county but have a couple of nice double digit COCROI mixed use commercials in Buffalo.

Double digit get caps are to be had if you know where and have the right team. 

@Andrew Aladjadjian cash out, use the money to buy rental props out of state with double digit net caps .

The house has already appreciated at somewhere in the high 5-digits.