With that said, we have record household formation, so either these young families are going to live with family, friends or on the streets, or they will pony up and spend the bulk of their money on housing.

If I were you I would start drinking in the morning and move to Los Angeles as the weather is tolerable and you can beg for money on the streets. 

Ran into some money at the time and ended up putting all off it in to this house when I heard the street name that the property was located on.

.- PITI, sewer/water taxes = $842.00/month- 1,008 sq. feet + 249 sq. feet on lower-level. 2 beds, 1.5 baths, fully finished lower, fenced yard, 4-car off-street parking, dead-end street, 15 minutes from route 495 to Boston, 15 minutes into Providence.- Electric heat.

Milwaukee like a lot of big cities ARV’s can very from neighborhood to neighborhood or in some cases street by street.

You don't ever want to accept a renter and then let them move in an unknown person because that's how many renters will sneak in their sex-offender boyfriend or drug-dealing cousin.

Property across the street recently popped up for sale, and so I immediately put in an offer because (1) close proximity to an existing property, and (2) the numbers made sense.

Theres a reason there is a police precinct located on that street.

For example if you lived on the same street for 30 years you probably have a huge advantage over some of the top producing agents, they may have time on task of being a realtor but in many ways I am sure you are the expert of that street. 

By driving street to street, neighborhood to neighborhood, you get a good sense and idea of what is going on in that area, which are the bad streets and which are the good ones, which have heavy traffic and which do not, which have more run down homes and which do not.