In addition, I would shoot for something simple like a 1960s built ranch on a slab crawlspace in a good neighborhood with good schools, and stay away from the owner built homes and/or basements for now.

If you're doing buy and hold, I usually just look for the gross rent multiplier to see what's worth looking at, then run hard numbers and check schools and area after that.

@Bob E. describes the school of thought that I subscribe to. 

This umbrella policy covers me if I hit a school bus on the way home, if someone gets hurt at a rental or even my primary residence.  

None of those people want to move frequently, I think families tend to move more because they become pressed to as kids outgrow certain things in the area (school, sports, friends) or new kids are added to the mix. 

3) Does anyone have any experience with the Allied Real Estate School.

I graduated from Texas Tech in 2011 with a Bachelors in Business Administration and went to work for a mid-major commercial contractor out of school.

If you went to school a little while back and your rates are really low, maybe there's a little less urgency there.More importantly, if you're in public service, I pretty sure there's something called the Public Service Loan Forgiveness (PSLF) program.

Some tested their concept with a booth at the farmer's market before venturing into opening a restaurant, some taught at culinary arts schools, some created a restaurant/entertainment venue, some moved their business from a high rent area such as Portland's "The Pearl" to a more affordable rent area such as Vancouver's "Downtown" or "Uptown", some simply offered the city a cuisine that was not offered before.

What school are you going through?