The other 2k is just "bonus reserve contribution" each month, and it can occasionally be safely utilized as desired (for that trip to Mexico), because I've already budgeted my cap ex reserve contribution into the expenses for the property.

I believe that if you build it "they" will come; "they" being the types of people like myself who want to be close to downtown and work/school and have a tough skin not to be intimidated by crime stats, or the occasional cop chase. 

I occasionally see nice two family's for reasonable prices. 

@Greg GaudetI bought my first property (a two bedroom cabin in Branson, Missour that we use occasionally) almost 4 years ago for 130k.

Obviously, every place that has houses in this range have occasional issues (of our 11 units, we have had one issue each year with a tenant having to be evicted or moving out without paying one month of rent), but one thing that is a huge positive for most of our houses is that they were in the New Castle historic district, so we were able to fix them up and receive a 20% historic tax credit on the cost of fixing up the properties we bought (we bought a considerable amount at their annual tax sale).

Occasionally, I've seen windows below this threshold, and when we redo the windows, we adjust the framing to comply with the 24" requirement.

Because PEX fittings are inside the tubing, it cuts down your inner diameter, and I've occasionally experienced some 2nd and 3rd floor water pressure irregularities.Every time I run into an issue with a supply pipe, some of all of it is replaced with PEX.

The combined total value of both of our cars is less than $8,000(not complaining, just stating that we are not extravagant). 

It's no picnic coming home from your day job and dealing with a tenant who called to say that the water heater is leaking and soaking the ceiling of the unit below but the benefits far exceed these occasional headaches.

Having people there occasionally in my opinion is safer than leaving it empty also.