If you do use CAR forms and do things "on-market" then it's really more of a question of your brokerage's tolerance. 

@Jason Stephens That depends a lot on your risk tolerance and if you want this to be an active venture into real estate or do you want it to be passive.If you are comfortable working at a distance you would be able to get different deals(may or may not be better). 1.

I don’t have earthquake insurance on my primary residence but I’m quite a bit from the fault line as well.It all depends on your amount of risk tolerance.

Risk tolerance, access to capital, budget, cash flow vs appreciation potential, time-horizon for your goals. 

Markets with relatively affordable housing may offer more opportunities for investment.Rental demand: Markets with a high demand for rental properties can be attractive to investors, as they may be able to generate steady rental income.Foreclosure activity: Markets with a high number of foreclosures may offer opportunities to buy properties at a discount, but they may also be riskier due to the potential for lower property values.Transportation: Markets with good transportation networks, such as access to public transit or major highways, may be more attractive to renters and buyers.Amenities: Markets with a wide range of amenities, such as shopping, dining, and entertainment options, may be more attractive to renters and buyers.Ultimately, the best market for you will depend on your investment goals, risk tolerance, and financial situation.

I’ve taken a critical look at my risk tolerance to see if I’m being too conservative.  

Ultimately, the best investment depends on your financial goals and risk tolerance.

I personally try to leverage as much as possible and not have any of my own money in a deal because of my personal goasl/risk tolerance. 

Know Your Risk Tolerance and act accordingly.-4.

Effective has a different tolerance or definition.