I will choose a state that is NOT an emerging market, Missouri in particular Columbia.

Generally speaking, as long as the tenants are trained in what to do in case of emergency, there's no problem.

My main focus is in the Heritage Hill, Eastown, Gaslight,and Medical Mile areas.

Perhaps it's old medical bills.

According to your requirement on the post, you are looking for Buyers Market phase two, which is one of the four parts of the Emerging market cycle.

If they don't pay their medical bills or student loans on time but their rent has always been paid on time, I'll consider them.

This is assuming I did all my acquisition numbers right and an unplanned emergency doesn't wipe me out in my first year of course!

I'm not sure what the rules are in your area but here in Virginia we are required to not only have a main drain line but also a secondary emergency pan drain line.

So, you could find a house for $350,000, sink $50,000 into it, and have $400,000 total invested (leaving you with a few hundred k for emergencies).

We bought it for $530,000 in 2007.We are current on our payments but we are going to a have a huge change shortly as my hubby is moving back to our home country for a job and due to medical problems in the family.