Short of throwing a dart at a map, we're considering other markets as well.In terms of looking for a property manager out-of-state, it helps to work backwards.

Until that happens, throwing money at a sinking ship in order to pay the sailors who are not fixing the holes is a waste.

Best energy wise to buy a replacement double pane window and throw the combo storm windows in the recyle tub to sell the alluminum.If that isnt possible,buy a new combo for 20 bucks

When someone shows up late for a meeting with me, I instantly throw their credibility in the toilet.

Very tough times right now in the rental business.I am one of the few landlords I know with 100% occup. right now but I had to pay for it, reduced all my rents 10% across the board to keep my good tenants, and my last vacancy took 5 months to fill and I had to drop my rent 20% from the previous lease to fill it.Everywhere I look are for rent and for sale signs and the tenant quality had degraded tremendously .. credit ratings, background checks etc, which equates to higher damages for landlords and less ability to collect on those expenses .. experience speaking there..Taking on a rental property for a flip is a dangerous game unless you can fully afford to fund the payments for a LONG time and still make a better profit then the risk free rate of return on cash.One bad tenant, not paying, damages, legal problems, and you could be looking a total loss of investment.. which could be considerable to get a mortgage these days.That said:Property Taxes, Insurance costs, upfront renovation costsHouse Age < 10 years preferredRoof Age < 10 year < 5 years preferredInsulation QualityElectrical system ageHeating/Cooling System Age < 10 years < 5 years preferredFloors (Carpets are a hole you throw money into), tile preferredKitchen and Baths (Expensive renovations)You have to be able to accept rental payments up to 20% below the market to get a good tenant and credit and background checks are mandatory .. so longer empty periods are expected right now.Personally, I think this is a great time to begin to build a rental business as properties are available well below rebuilding costsand hence will appreciate but OJT Landlord training will be expensive ESPECIALLY NOW!

If I wait to do the repairs with cash flow, the ROI is around 44% for each.Does 5 of 8 vacant units (and currently no power/water in the 4- 1bds) throw out a red flag, or is that insignificant?

Tenants throw trash on the floor that is too big for the robots to handle.2.

Of course, that may throw your numbers a little. 

Throw yourself into the work.

Probably one of the biggest differences is that banks aren't throwing out equity loans at a record pace; supported by ever-rising, ungoverened, appraisal values.I'm not an economist, just my observation as someone who was on the receiving end of a lot of those equity loans in that period of time.