With that being said I love Texas, not a huge tourist State but great place to live IMO. 

They are attracted for different reasons.

Also, being my first deal, the 100% financing is attractive for me, and I'm sure a lot of other rookies who have little to start with.....

If they succeed in attracting larger developments of affordable housing into the downtown area, the pressure for affordable units in the outer neighborhoods may ease up a bit.  

You'll see high levels of unemployment and some crime, and will attract a much lower class tenant.Stay away from F.I typically try to invest in B to C class neighborhoods, and ideally I like to find a C class property (needs updates and repairs) in a B class neighborhood, but that's personal preference and it all depends on how much work you want to put into the place.All that being said, I'm definitely a multifamily guy myself, but you do tend to get higher turnover and more tenant issues with multifamily properties, and they are more likely to call you to fix every little thing than someone renting a SFH.  

I'm very attracted to deep value situations, which to me means gross cash flow generation above the 2% mark (to give a general metric).  

While Venice has an extremely robust tourist market, related taxes are quite high (and so are property values).

I think you would attract a different (maybe better?)

Share your values with the tenants and enlist their support in keeping their complex and community attractive and crime free.

The city of Breckenridge has decided they are going to do something to bring in summer tourists, and plan lots of festivals and weekend celebrations during the off-peak months of summer.