Would be wonderful but sadly doubtful of that would ever happen in the environment we are in.

Actually, an area with few renters might even be more in demand than an area with mostly tenants, because it's a more stable environment, when it's mostly home owners. 

The market/rate environment may be different when your 5-year period is up for reconsideration. 

I don't wanna be the fish swallowed by the shark on his first deal.

Big thanks to all of you for creating such a great learning environment :)

As such, I'm effectively receiving a 6% net return on my investment ($9k/$150k), which may be below average equity returns, but it's also somewhat fixed and I personally believe the market's entering a low-return environment.

Ask the building codes people to be sure.An electrician will know the tricks for fishing cable through existing walls. 

Given that the general discussions here focus on cash flow properties in B, C neighborhoods, I wonder what the exit strategy for investors is with regards to these properties especially in an environment when the economy sours up, vacancies rise and RE goes soft.

The economics get a lot less straight forward in the current environment. 

Jared,I am just a little fish on here, but it sounds like you're looking too much into the high end properties.