This isn't a sprint.Figure out your smart goals, find a market that works with you and your budget.

Thanks to technology. 

Here are the pros/cons as I see it:Frayser Pros:  Excellent cash flow (when rented to a good tenant), cheap homes (roughly $40k or less), rougher area.. but not so dangerous that I won't go to the house to do work (during the day of course).Frayser Cons:  Home values will probably never appreciate much, dealing with low-income tenants who often only make partial payments (always seems like I'm chasing them down), risk of break-ins when vacant, I've NEVER had a tenant give notice to leave.. they've always been evicted due to lack of payment, flaky handymen/repair people (maybe this is common everywhere).So is it smart to be investing this way.. chasing the cash flow? 

Just like those smart, traditional financial planners teach us to do.Then again… what about all those infomercials I saw on TV?

You are doing it smart, get the rents to market and little by little get the units updated.

So then when you find a buyer, you get your EMD back from the end buyer or maybe at the Closing at that point.But you would be smart to take an EMD for at least the same amount you paid.

I learned that spending money with blinds and appliances are not smart unless you want to get a bunch of FHA buyers in your door.

With technology these days you do not require either if you invest in B class assets or better.

The tenants helping pay the mortgage is a smart approach.

I have talked with my financial advisor about the situation, and he favors making (smart) investments now over putting every cent of excess cash flow into paying off the loans as soon as possible and deferring investing.