Lots of that city is in pure war zone, where most investors dont want to be. that being said, there is great cash flow in war zones, you can make a pile of money if you have the stomach for dealing with war zone tenants.

While four plex didn't make sense for us, that is a great way to get started with as little skin in the game as possible.I totally agree with you in the sense of pure investment.

Pure Awesomeness!!!

Generally speaking, we can divide each market on A, B, C and D classA class - The best area in town, new construction, low crime, best school distracts, usually most expensive housed in town where Business owners, C-level executives or just purely reach people own.

"Hobby" was purely meant in reference to tax implications.

An Example addendum I use for Florida a Tenant friendly state "Security Deposits and Advance Rent, Security Deposit is Not for Last Month's rent, My ability to inspect the property, Smoke Detector battery maintenance, Mold (Tenant will use heat and A\C to prevent Mold). 

This allow us to start buying pure properties.I had the amazing opportunity to talk about our strategy and how we got started in podcast 103.

It isn't very good as a pure rental either; rent of $1200 and mortgage of $900 (+taxes & insurance).

Just a pure coincidence.http://www.thestreet.com/story/12083751/1/bill-erbey-made-23b-off-your-underwater-mortgage.html

I will sell the house for 150% of my initial purchase price (its already been sold just being leased for a year prior to closing) and make 40% pure profit from it.