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Assuming a scale for A being Best and D being the worst neighborhoodsBuy cash flow properties in ideally B, B- To C+, C areas with good economics jobs etc.So if someone says they need $ 8000 in cash flow per monthWe would build the model as follows.

Use Biggerpockets resources, read and don't invest until you visit the market you want to invest.I started out looking into turnkey model and visited several areas including Memphis before decided to go on my own route in NWI market.If you decide to enter in NWI market in future, I will be glad to help.

You've got some time but you may want to think about a model that is buy, fix, rent, then evaluate after a year or so to see if you want to continue holding it as a rental.  

Some leases allow removal of they restore to the condition the premises was in upon delivery.

Yep, the refi till you die business model never ends.  

. § 14-11-702, which reads as follws: (b) Without excluding other activities which may not constitute transacting business in this state, a foreign limited liability company shall not be considered to be transacting business in this state, for the purpose of qualification under this chapter, solely by reason of carrying on in this state any one or more of the following activities: (1) Maintaining or defending any action or administrative or arbitration proceeding or effecting the settlement thereof or the settlement of claims or disputes; (2) Holding meetings of its managers, members, or other owners or carrying on other activities concerning its internal affairs; (3) Maintaining bank accounts, share accounts in savings and loan associations, custodial or agency arrangements with a bank or trust company, or stock or bond brokerage accounts; (4) Maintaining offices or agencies for the transfer, exchange, and registration of membership or other ownership interests in it or appointing and maintaining trustees or depositaries with relation to such interests; (5) Effecting sales through independent contractors; (6) Soliciting or procuring orders, whether by mail or through employees or agents or otherwise, where such orders require acceptance outside this state before becoming binding contracts and where such contracts do not involve any local performance other than delivery and installation; (7) Making loans or creating or acquiring evidences of debt, mortgages, or liens on real or personal property or recording the same; (8) Securing or collecting debts or enforcing any rights in property securing the same; (9) Owning, without more, real or personal property; (10) Conducting an isolated transaction not in the course of a number of repeated transactions of a like nature; (11) Effecting transactions in interstate or foreign commerce; (12) Serving as trustee, executor, administrator, or guardian, or in like fiduciary capacity, where permitted so to serve by the laws of this state; or (13) Owning directly or indirectly an interest in or controlling directly or indirectly another person organized under the laws of or transacting business within this state.Good luck!

For sales comps the biggest advantage of public records is that they will include non-MLS transactions.Everyone should keep in mind that value estimates like ours or the Zillow Zestimate (known in the industry as automated valuation models, or AVM's) are based on public records data and therefore don't take into account things like curb appeal, view, home condition, landscaping, etc.

@Nick Britton I know he said that the entire job would be about 2800 for a higher end model. 

In the end, you need to perform your own risk assessment and decide what is going to work for your model.