I understand that paying off a property means positive cash flow once rented.  

We intend to do a free refi by the end of 2024 with a better interest rate and more equity in the home.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I'm finally in a good cash position to make a move and have found a property with what looks like great potential. 

I assume when you say "the numbers work" that you cash flow positive...How much is the condo, what are the HOA fees?

i can't tell from your post, but are you trying to break even or net positive? 

I'm aiming to focus on building equity over time through appreciation and debt pay down.Is anyone investing in SFHs in that area?

Or would you just rent it out between 0.8% and 1.1% ($1800-$2500), taking into consideration the surrounding areas rent, making sure it turns a positive cash flow?

I'm hoping the $200k~ equity cushion would provide warranty against a downturn and not having enough equity to refinance.