There are a lot of other pros and cons but I think that they can typically be a great start if you are willing to put up with the hassle factor.

Thanks @Jeff Kehl and @Roy N. for your elaborated response and explanation.This is an out of state investment for me (almost 3 hrs drive from my place).

It's a complicated topic, but there are 2 major economic factors that make them a super risky proposition. 

Some markets mulit family is all but forgotten about by anyone other than investors other markets people see the value and drive the demand higher. 

So i am looking to buy my first property within the next 6 months and have a few questions related to the DFD strategy. First, I am looking to purchase a buy and hold investment property that will cash flow after all ...

If it hasn't been mentioned previously, one area that I often advise out-of-state investors is to be aware of the property tax rate for non-homestead, and factoring in the higher tax rate when running your numbers.

We have a variety of jobs we work that are either remote or require us to travel to them so we are open to any market that is within two hour drive of a major airport (so 75% of the country), but where!?!

They weren't built simply to cram as many house in one space, catering to commuters that drive back and forth to the city.

We are in Gainesville, FL and willing to drive them anywhere in North/Central Florida.   

DO NOT let your emotions do anything but drive your desire.