Overall, I think you need a lot of numbers work to help you choose the right direction.

Central heatIf you must choose only 2 to focus on for you property I would say 1 and 2 should be your main priority.

@Jerry Tan that's so true- and because of that you'll want to choose a market where rentals are resilient enough to withstand management mishaps.

Do you really want thousands of dollars hinging on whether or not high up executives choose to expand in a certain city? 

You have made it clear to your tenant it is OK to pay as they choose. 

Obviously I don't want to lose my own funds but I am in this for the long run and my reputation (based on integrity, experience, network, etc.) is more important than the money itself. 

Make sure when you choose your coverage that you do have replacement cost, or you could be out of pocket a good bit.

I never choose to supplement tenants rent at my expense and devalue my investment.

If you want to buy houses and remodel them yourself, and then manage the tenants, you need to choose a market you can get to easily.

We submitted an offer on a triplex last night and while our Real Estate Agent has an Attorney they typically use, we would feel better about a referred Attorney here on BP and with a good reputation rather taking a chance on an unknown attorney for our first investment property.We're also looking for referrals for good, local licensed contractors to have the home inspection done.