@Brian Garrett I feel your pain and was in the same position when I was only investing in Northern NJ.

The only risk is the pain of moving slightly backwards. 

@Garrett Schmidt at 120k for a duplex you'll probably be dealing with some pain..

@Kyle KellerI feel your pain.  

I feel your pain and I am in a similar situation on several units I own.  

My rental has been pain free and providing strong returns.

Moving is expensive and a huge pain.

HOA fee's can really eat up your profit and even dealing with them can be a pain (I recently changed the door knob to my gf's condo to a smart lock and she got a letter saying if she doesn't change it back she will be fined since they want all the doorknobs in the building hall way to look the same or something along those lines.)(-_-)  Also condo's/townhomes just don't appreciate in value as much as Single and Multi-families do which is important if you are trying to be a buy and hold investor.

Rewarding bad behavior feels bad, but focus on your long term success over short term pain.  

Also, from a psychological perspective, I believe not having cash burning hole in pocket is better vs. having a line that is no different than a credit card.