You can buy nicer rent-ready properties that will attract higher quality tenants and have a good property manager managing the property (5 minutes per year time spend), or you can buy a total dumper that needs rehabbing and then you can landlord it yourself (up to hundreds of hours of time spend).

Their reasoning is that they're doing a hard push toward raising the quality of the city in that particular area as that area is considered a bit more challenging.

As a part-time investor these days, I am looking for any references for a quality and fair contractor in the West Palm Beach, FL area.

On the case of the tenant you don't have to evict them you could do simple what I did years ago when I use to buy HOA foreclosures that have tenants, just ask them to leave and charge no rent for that time, yes it's that simple tell them they were scammed if you haven't already but be the good guy I usually say something like this "look this happens sometime you are in a bad position here your lease is not valid, I usually give people a week to leave but ....

When they call notes due, they lose money, and it's bad public image.  

In all honesty that photo doesn't look bad, but what does it look like in person is the better question?

It is in bad repair and will need a good amount of work before it can be rented but after the income is very good.

It is much closer but a 5-hour drive.Cons- Higher property costs than Market 1 and much more crime so I could potentially pick a bad area to invest in.Market 3Pros- Small College town with very high rental rates, very reasonable RE prices, higher rents.

To minimize your risk and start generating cash flow I would build a success portfolio of vacation rentals you managed and identify what qualities make a successful property.

Almost everything is apartments in the bad part of town or large houses in the mid to high income areas.