In addition to that, most buyers have a preference for placing their own tenants versus inheriting tenants, even if they just moved in.

I've heard that looking at the average cost per acre versus the cost of the property can be a good indicator of whether you want to invest in repairs versus teardown.

Versus Columbus is 5 of 10 this century (but has done quite well over last 10 years).      

That gives me enough traction to make a large wager. $220/$300 per $10k upside is very enticing.

I am concerned that I could be taking too much risk by investing in a currently undesirable area versus spending more to enter the market in a more expensive area nearby that is currently thriving.3.

I really like the equation, though, because it does encourage/provide the idea that house hacking can truly increase your personal net worth and be a better option than for example  (having a relatively higher income in town A but you rent versus lower income in town B but you house hack -- the NWROI may tell you house hack in town B!

Claudio,A few things to consider when deciding on a Heloc versus a Cash out refinance on a primary home.

You can usually tell demand for 1 bedrooms based on the price versus similar 2 bedrooms. 

Unfortunately, charging by the hour would just create another problem - owners thinking they should only pay a PMC minimum wage rates, "because it's so easy to do".Owners don't want to recognize that property managers have invested years in learning what they do - just like owners have in their careers!

Will they expect more of a down payment from you if you intend to be owner operator versus using an experienced manager for it, or if they view the economy as a slippery slope in the near future in your area?