My decision was purely based on research: unemployment going down, migration into area going up, rents going up, prices going up steady (but not sky-rocketing), Case-Schiller Index elasticity and things like that.... then I did my homework with finding the team (realtor/s, property manager, investor-friendly escrow company, other investors, etc...) and started going to work. 

That's pure BS, but those who lack basic accounting principles, valuation requirements and financial misrepresentations swallow such thinking hook, line and sinker.

I've also been trying to implement Agile Results on top of that to make sure that I am always working towards my high level goals (something that was harder for me to stay focused on with pure GTD).

Are you trying to buy pure cash or finance the properties?

Interest-only loans have made a small comeback but at least they require 20% down so there's some insulation.Ah, memories of the good ol' days of pure insanity...   

Here's the problem and while this is purely theoretical, it is what I believe to be one of the great dangers we face in liberalism that I don't think we recognize.

My Motivations are pure and simple.

It all depends what you mean by viable and what your objectives are.If you want to buy a property for lifestyle that you would use as a vacation home and rent the rest of the time, you should be able to at least cover your costs, provided that you buy the right type of property in the right place and have it properly managed.As a pure investment, I wouldn't expect very high returns and there are definitely better places for that in the broader region like the Mexican beaches, where properties are generally much cheaper and the potential rental income is much higher.

What kind of house are you looking for, personal or pure investment?

No business or business activity shall be conducted on the premises other than that activity that is customarily considered to be purely incidental to residential use.