I prefer to go outside of primary markets (Raleigh/Durham) where there is no cashflow to more peripheral markets like Rocky Mount, Louisburg, Wilson, Roxboro ... and so on. 

Mostly in the central area and suginami type peripheral neighborhoods. 

some of the peripheral questions @Jack B. is asking:-optimizing your portfolio - potentially selling off either low performing or high appreciating assets, and-diversification into other asset classes?

They are most ideal when you have a lot of rooms  All you're gonna get is undesirables.

Many of us feel that Safeguard misrepresented investment opportunities in undesirable areas. 

There are many out there that you can google, but remember there all going to have undesirable fee's and high rate's so you may not have much of a choice. 

Typically there is a one or two year ramp up period where you get all the deferred maintenance and/or undesirable tenants out.

Slightly concerned that I might catch a bunch of undesired feedback.

Examples of pitfalls include purchasing in an undesirable area, not understanding the market values (vs. list prices), not knowing the rental values (current and market), inheriting bad tenants, buying a lemon, going rogue on renting and management with no contacts / systems / no legal understanding of PA and Municipal landlord-tenant laws, not having trusted resources and contractors in place, using out of state lenders or shaky financing, throwing lipstick on a pig when renovating a house and wondering why it's ARV isn't increasing, tenants are renting, etc.

If you get an undesirable tenant, the solution is to break up and not try to enforce a random slick thing in a lease that a judge will likely not allow anyways.