I'm not sure of the product demand in your market, but in Columbus, I push for higher-end finishes and try to attract graduate students, medical students, etc.

But I do not share your optimism that it's not a threat.Read this, although certainly not authoritative but just the IRS interpretation:https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues"...But to the extent gross receipts are generated by the shareholder's personal services, then payments to the shareholder-employee should be classified as wages that are subject to employment taxes..."

Ocala is getting a huge new marijuana grow and distribution center for medical marijuana. 

In "Skid Row", there were usually several kinds of apts for the homeless or very low wage persons including "SROs (Single Room Occupancy)" and Flop Houses.Back then, you could have lived in one of these "SROs" by working in some menial task that didn't require any skills such as loading and unloading trucks, etc.They didn't care if you were mentally ill or physically disabled or need medical attention.

I started RE investing as a way to exit corporate America, so with that means I will be responsible for my own medical insurance. 

I like your advice. we do live below our means, so we can go slower and save up the next down payment while getting more experience managing properties.

And if your budget is 15k for closing costs and rehab, what happens when something goes wrong like a water heater, air conditioner, medical bill, car breaks down, etc?

I've collected rent in bars, restaurants, casinos, WalMart, my driveway, at an armed security gate at a refinery, a medical clinic, a hospital room, and ATM's at a bank and convenience store.  

Hydronic starts up slower and holds heat longer.  

To give you some info about myself...I graduated from college in May Debt free and am currently in the Medical Device Industry making 80k in year 1.