that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), 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 (around 10% probability of default), 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.

Find a partner who has money to invest with and find & manage the deal (sweat equity).

I am a broker and property manager up here in Clarksville, TN.

I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

Do it very intentionally, not just for the sake of scaling up, but to get better quality or easier to manage properties that will replace lower quality or harder properties. 

I'm barely competent managing rentals in my backyard in NC. 

I currently work with investors who are looking to begin their portfolio in turn-key real estate and manage for them on the back end so they can still enjoy their everyday lives while having a resident in place paying down their loans. 

Sees a lot of off market stuff because he is a property manager as well.The toughest part about investing outside of your locality is finding boots on the ground that you can trust.

@Kyle Cross you claim to know a lot about the industry, but your questions are vague and so is the info you've provided.Not sure how managing 8 units doesn't, "require much management"?

(One went with another manager eventually, and the property is listed for $400/month less than we listed it, and the other finally got rented to a solo professional.)