So, I've finally pulled the trigger on a rental, and would have never thought it was going to be a triplex, but the figures work for me.What are the next steps I should take?  

I have looked at Rentobo.com but haven't'this pulled the trigger with them.

Because once you get one of these babies under contract, regardless of where you buy, you will want to pull the trigger fast.

Efficient public transit has alot to do with it; my station has 23 train departures between 8am and 9am, and the schedule looks like this:8:00 8:03 8:05 8:08 8:10 8:13 8:15 etc.Any delays off by more than a minute or so from the schedule:1) are rare; normally triggered by extreme weather like a typhoon2) trigger profuse apologies from the subway staff.Another major difference is the US approach to top-down city planning - you simply can't have a "neighborhood grocer" inside a big blob of residential zoning.

Almost pulled the trigger on a vacation rental in Grand Lake village but couldn't justify the numbers.

Check the comps, estimate your own rehab, and see what it can sell or rent for before pulling the trigger; trust but verify.

I want to have really good numbers before I pull the trigger.  

If you have a mortgage, you might consider putting your property in a land trust with the LLC as a beneficiary to not trigger the due on sale clause, the clause Melanie Smith mentioned.

One more question though: When it comes time to pull the trigger on a location, should I look for newly renovated/empty locations and look for tenants at market price, or should I look for places that already have tenants that are reliable but are rent controlled?

I should be ready to pull the trigger on my first non-personal residence rehab in the spring of 2015.My hobbies are golf, mountain biking and fixing up old cars.