: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.

We see on average 5-7% of monthly rents going back into general repairs and about the same to capex depending on the property condition.

It will depend on your demographic @Ethan Swat. 

As far as whether to rent or buy, it depends on your personal situation, though as it's a new area it may be a good idea to rent for the first year while you decide where you'd eventually like to purchase.

As long as you have a good credit score, you may not need to go through all of this.

This is really dependent on the stage of your investment life.At your age starting out I would be heavier into cash and 401k.  

Depending on the location, the home could benefit from appreciation in value and/or experience rent growth.

Typical rates are 8-12% of income either monthly or yearly depending on manager.

Like Ken said, really depends on what you're planning on doing with the property.