In the near future, we’ll be visiting The Shoals area in northern Alabama, where we’re considering a potential move this spring.

.: Any idea how far south the potential for Santa Ana or similar winds goes?  

Seems like a property that isn't going to appreciate rapidly so cashflow will be vital to its investment potential.

@Mitch ProvostFrom my experience of working with over 400 investors, your property near Texas A&M in College Station/Bryan has strong investment potential due to the consistent demand for student housing driven by steady enrollment growth.

I'm also concerned older homes have already seen their biggest jump in capital appreciation and don't have as much potential for price growth compared to newer homes.What are your thoughts on older homes?

(and potentially get a better deal with PM cost should we employ one).

Germantown has better cash flow potential but may require more hands-on management.

I have a potential deal on the hook however, the property has been neglected by its previous and current owners and the current tenant isn't the cleanest.

With a planned 5-7 exit, there is potential to be "upside down". 

It is still a seller's market in many geographic locations, so you can ask potential buyers for an extended closing period and/or with options to extend the closing period.