The main thing with real estate investment, from my limited perspective, would be to find the niche that best suits your investment style and personality and learn everything about that niche and do it as well as possible while continuing to learn and grow both your business and career.

List might grow over time but very targeted. 

I much prefer a lower cap rate in California knowing there is a high likelihood of long term rent growth and capital appreciation vs. concerning myself with a higher initial cap rate in the midwest but on an asset where rent grow is small and an asset that is deteriorating. 

I look forward to interacting and growing with everyone and hope everyone has a fantastic day!

What you lose there you will pick up on cash on cash returns and if executed well you will also be able to grow with more speed.  

:) Nina.I would absolutely love to help you begin growing your rental property portfolio.Those markets that you mentioned are overpriced at the moment but there are many markets out there where you can buy single families with 20% down and cash flow $200-250/mo with cash on cash returns of 18-20%!

People know which town looses people, where economy is growing, etc...

I see many investors saying they are buying properties with no cash-flow or even a negative cash-flow because they predict the market will continue to grow and they'll eventually gain a cash-flow and build equity.

And yes DC is expensive, but I am sure you and your wifes salaries are consumate with the market.

Here PM companies are expected to provide routine checks of properties, both the commitment and cost are baked into the service offering - so ultimately the client pays (PM fees are typically 7-10%).It still falls short of what we do in-house for our own properties (one of the reasons we are growing our own capability).