Quick list, pros- low vacancy rates, high rents, moderate/high home appreciation, high rents increases, demand is always there as people move/commute from NYC; cons- very competitive, pro tenant laws, high property taxes, some towns have rent control, high barrier to entry with expensive multifamily prices. 

There are lenders that do no seasoning cashout upto 80% LTV as long as the rent covers the mortgage . average lender is at 6 month seasoning for new value and some are even going as far as 12 months now 

Not many people know this, but Reno, NV is actually the 23rd most expensive market in the US. 

I have always wanted to live in a warmer climate (ideally closer to a beach) but these properties tend to also be expensive and are better for appreciation than they are for cash flow.

I assume metal roofs in general are more expensive so thats why builders, flippers, roofing companies push them because they are better for their margins, but if you are planning on holding the asset for the long haul I have to think metal is going to last way way longer. 

You are making almost everyone more complicated and expensive regarding banking and tax preparation. 

I average 1 big replacement or fix per year per rental, basically the warranty pays it self.In my opinion you dont need warranty unless you're in a high labor state.

It is a matter of if you want to hire them full time on salary - if so hire as employees, but in 90% of cases, you can just pay them as a business expense with a contractor invoice

But he is expensive.

With the cost of living 9.8% lower than the national average.