Don't get me wrong, there are negative things about the area too, the uncertainty of flood insurance, the tight market also makes it difficult to find deals, people from the NE or California who pay more for homes than they're worth and in turn drive up the market because...

I've realized there isn't really any middle ground there...you're either cash flowing, or you're negative each month. 

Then the lender may require additional information and/or wait until the item is resolved (negative or positive).

Maybe someone can tell me of the negatives of my thought process but I personally would rather my tenants make themselves a few extra keys to have as spares or give to a someone they trust just in case they need.

Here is a link to the original video I did:http://youtu.be/QSBJCdkAhgIThis is a REO in Southern CA in a typical neighborhood, house had several negative features (backs up to main street with traffic noise, shared lot line, small lot).

If your rent for $2300/mo, you are going to run negative as that doesn't account for ANY repairs, maintenance or vacancies.  

Apparently they can afford a negative cash flow, or they aren't on BiggerPockets and don't realize there's going to be a negative cash flow.

If you have to borrow in order to buy in your IRA, the borrowed money will be subject to taxes that negate the value of the IRA - This puts you right back at point one.

I have been really digging deep into the area's statistics and I drive through it every day on my way to work.Last week my business partner and I found what we thought was a great rehab project in the area and in our price range and we went and checked it out with a local agent...well unfortunately, we decided it was too much work for our first deal, so we kept looking.This week I've had my eye on a property but I would really appreciate some experienced guidance first.The property is listed for $51K with 2 beds and 1 bath at nearly 700 sq ft and valued at  $61K.

, vacancies, and usual repairs, your returns are going to be paltry at best, and negative at worst.With condos in particular there is the risk of special assessments that are going to happen throughout the course of your mortgage.