Because it was a one-off, it's more like buying a lotto ticket than an actual investment strategy.

Fayetteville, ARPros: pretty well-rounded in terms of cost of living, quality of life, job market, net migration.

Invest in multiple locations and states but within a 4 hr round trip at the longest.

And yes, to be through and consistent, it is my opinion that a small multi in a D location is going to have more R&M than just about every other residential asset there is.CapEx: Capital Expenditures are big ticket items that degrade over time (roof, heating systems, etc).

I thought they may all be investment properties, but they were mostly used as weekend getaways/vacation homes, not rentals.

.- Negotiate as many big ticket costs in at closing and make sure to get a home warranty to help minimize impact of big costs year 1- Know you’ll have to spend about $1.5K out of pocket for every property you are considering during due diligence (Home inspection, appraisal, sewage inspection).

If an owner isn't allocating enough for cap ex, CF goes "poof" (and if only allocating several hundred a month for Capex, it will take years to build up an adequate reserve to address these big ticket items).Natural disastersLawsuits (rare but they can happen)I can literally go on all day... there's nothing remotely predictable about CF in my experience.

Yes it is busy year round.

Another round is coming soon so honestly property values will probably start to decrease at some point. 

This was my ticket to move out.