You will be amazed at the quality of people you will find there and the information that will be shared.

Show the tenants that you do intend to improve the quality of their building.

If this is a resale for max profit & will not be a rental, do you recommend a higher quality or just what looks new/good?  

Shoddy subcontractors, substituting poor quality materials, etc etc are commonplace.

Choosing a location is based on many factors (for me): proximity to where I live, my confidence in the cashflow, quality of the property (I stay away from fixer-uppers b/c those can suck up your time), and -- so long as I am confident that it will cashflow -- appreciation potential is a nice "icing on the cake". 

What is your approach to finding quality renters?

I am very demanding and expect a high standard of quality in property management. 

@Mark Gallagher That is a great way to look at this issue with a new twist...... thanks.....as long as the guy who shows up with tools  but poor business management skills can execute the actual rehab work well with good quality and workmanship.High quality lemonade made out of lemons....that were bought at a steep discount.As far as materials, would you suggest that the contractor purchase them show receipts and get reimbursed or would you just purchase them yourself?

I am looking for long-term quality relationships and although I don't have a lot to offer the experts/mentors right now, I don't forget those who help me out and I will return the favor in any way that I can.

I see continued growth over the next couple of years, driven by quality job and population growth.