Keep doing your research and do your best to minimize your risk, but I wouldn't completely shut the area out. 

How do you guys minimize your downside and make sure that you're prepared for a market correction? 

(Focus: SFH or Multi-Fam Buy and Holds w/ minimal lipstick rehabs)  Also, I will be deploying capital into an OZ fund by end of year. 

To cash flow well in a depreciating or poorly appreciating area with many cap ex expenses may be a worse investment than a minimally cash flowing investment.

I like townhouses as the outside maintenance is minimal.

Ideally, I'd like to acquire as a rental, with the possibility of owner financing myself at a future date.The details are below:ARV: $270-280KRepairs: minimal cosmetic $2-3KLoan balance: app $219K at 3.8% interest,30 amortization, bought new in 2015.Down payment app. 10% down?

My experience is minimal but I’ve done plenty due diligence and am taking the necessary steps to getting my first deal under contract.

Hopefully it has minimal make ready expense. 

The tax write offs to minimize your tax burden is the other piece.

If you've never attended college before and you have minimal funds, you most likely qualify for federal and/or state financial aid.