That condo got me another rental property for what I could afford at the time.  

Now I’m waiting to hear back to see my numbers, what I can afford, that sorta stuff. 

Cash flow tends to be higher in rougher, more affordable areas.

One of my concerns is finding a competent and affordable PM to turn over the property each time a guest leaves.

. - Credit score of 580 or above. (640+ will be easier)-Established credit history (I think 2 lines of credit is the minimum i.e. a credit card and car loan)-Verifiable Income -Be able to afford the housing payment AND any existing debt. 

We like the factors you mention...the sales price range is more affordable than in "SF proper."

I am guilty of jumping in and doing this stuff myself as well...but am working to cut it out to afford myself more time with family and traveling. 

Yes, Tampa has been getting pretty affordable lately.

Typically folks in the 3.5% down bucket can't afford an extra 1.75% paid out of pocket, so it's rolled into the loan balance as a standard (but technically optional) thing.

Now that the capability is there and is affordable, of course people are doing it.