One that works specifically in your property type (multifamily in this case) will have their eyes and ears on the market.

Layman's way of saying all that might be "beauty is in the eye of the beholder" or maybe "one mans trash is another man's treasure".

Didn't see landlording as a business, rented to a "friend", no tenant screening, didn't keep a close eye on what was going on there, etc.

In my eyes, you use this property to rent out the rooms, save up as much money as you can, and then figure out what's next. 

I also help them acquire them; usually I'm their eyes and ears.

Dave Van Horn's article was a good eye opener for me; find a few good tourist attractive areas that you'd like to travel to once a year or more, then check out the short-term rental market there.

The challenge with fire damaged properties is that there is more than meets the eye.

Of course like @Don Spafford says, when you are doing it in a big town like Boise, regulation changes can turn your vacation rental into a long term rental in the blink of an eye.

I also believe in local investing and having my eyes on the property, so I want to be within 25 miles of Philadelphia or less.Now that I have my goal in place -- I can focus on acquisition and avenues.

I also have my eyes on few other properties outside of town that are triplex, fourplex, and sixplex.