For instance, what grade is the house, and what grade is the neighborhood?

If you were looking to immediately sell or use it extensively for personal use, or if you wanted to convert it to your primary residence you'd want to be careful of some things. 

I have been doing some extensive research around 2 bed, 2 bath condos in those neighborhoods and looking into the building's rental policies in case I ever would like to move back to the northeast.

For instance, it can quickly and simultaneously lower your expenses while increasing your income (the fundamental recipe for building wealth), you get the better terms of an owner-occupant mortgage, it can provide multiple exit strategies (rehab, sell, move out in a year or two and rent it, just keep living in it, etc.), and--importantly--it will teach you many of the most important skills that are needed for continued success in REI (e.g.; property analysis & due diligence skills, tenant screening skills, property management skills, etc., etc.). 

For instance - we have bought 2 foreclosure sales and ones from wholesalers where the property was about to go to foreclosure.

We have the option to do more extensive cosmetic rehab to go to open market if necessary.

Silver line extension in NoVa? 

BrianNothing prevents tenant from running the water, kicking holes in walls and door, or other vandalism.However, these things seldom happen as retribution.More likely, a tenant fills up an inflatable pool every other day in the summer, or fails to report that the kitchen drain is leaking, or that the boyfriend beats her up every weekend and busting up the place, or that tenant lets a dog do his business on the carpet, or overflows the tub because they fell asleep.While a good tenant will agree to a fair water policy; the court will typically throw out the policy in an eviction.Keep in mind that you can get a leak notification from water department via “clear-reads” through the mycleveland water website.Usually bad tenants are multi-dimensional... they tend to follow a pattern... low credit score, extension criminal background hits such as driving with suspended license, expired plates, drugs, panning the rent late, refusing to pay the water, violating trash pickup guidelines, police calls by the neighbors, no-show for service calls, removing smoke retractor batteries for the kids toys, not replacing burned out lightbulbs, not taking care of the yard (in a single family”, busting blinds and screens, etc. 

Originally posted by @Tim Johnson:Found my fancy map Tim while this is pretty accurate its not 100% for instance in CA.. there are 3 ways you can loan on 1 to 4.. 

Like Detroit, for instance.