Per your point #3, invest for cash flow and accept appreciation as a bonus. 

Things that renters like in my properties that they see as a bonus: fenced in yards.

Big bonus points if they are in Harford, Baltimore County, Cecil and the Eastern Shore!  

I would suggest you check out my REIA clubs page and sign up for the free newsletter. 

All you gotta do is google "google voice", sign up, link your cell #, verify, and you're good to go.

Purchase price: $195,000 -5 Unit (4 Residential, 1 Commercial + bonus detached 2 car garage with attic) -Purchased $195,000, 10% down (5% for me, 5% for 50/50 partner )-$45k in Renovations-Should Appraise $300K + after renovations are complete What made you interested in investing in this type of deal?

The property consists of two residential units and a large bonus space that is used by MANNAHOUSE, a local 501(c)3 that distributes food to those in need.

Purchase price: $425,000 Cash invested: $90,000 The property consists of two residential units and a large bonus space that is used by MANNAHOUSE, a local 501(c)3 that distributes food to those in need.

It is worthwhile to get Jay Scott's book "The Book on Estimating Rehab Costs" and the bonus content.

This is a long-term investment and the cashflow is merely a "bonus" in my opinion.