Pro-tip: Speed of implementation is crucial.

At the speed the state is currently paying landlords, you might have to wait over a year to get paid. 

South End has been an established high quality area for a while.

So depending on the situation, like if you ave a lot of high quality applicants, or how other financial indicators looks like, like employment, collections etc I will take a decision.

First off, do you have an understanding of the quality of title you will receive?

Property out-of-state would be ideal to be in an area that would yield quality tenants so probably looking for something around B-class that still offers good passive income. 

Last month I purchased 2508 Ashley Rose Terrace in Henderson for $525k and tested a $2,995 rent rate and secured a quality tenant at this higher rent rate.

Given the speed with which properties have been appreciating in our market, we would have never been able to save fast enough.While I am always mindful with leverage, I see it as a valuable and necessary tool for investing. 

I would suggest finding options that look nice, and are decent quality.

I am somewhat concerned about timeline on getting quality tenants that would be interested in rooms not a full unit to themselves.