No Risk No Reward - I know... but a part of this investment will mean that I'll have to liquidate about 60% of my portfolio to come up with the DP. 3) Insurance right now is at a little over $30k/year, and I expect this to keep on growing.

This keeps you closely involved with the property while ensuring it meets the needs of your tenants.Many investors have adopted this strategy and found it to be rewarding.

Mayber I/we are all wrong and it will be rewarding.

Meaning, when that tenant decides to renew.....the staff and the company managing the home should be financially rewarded.  

I don't like to put letter grades on neighborhoods because it's so subjective but @Michael Smythe did a very good job explaining the trade off with risk vs reward in the different types of neighborhoods.

Funny how tenants want you to spend time and money making upgrades and they reward you by not taking care of the property.  

Make sure you listen to your accountant on this next step; it can be a rewarding one.

All business expenses go on AMEX Business or Chase Business accounts for the points; a nice little reward for everyone at the end of the year.

Does anyone have any tips for specific suburbs to look at that offer a good risk vs. reward mix? 

Their perspectives have been invaluable in highlighting the nuanced balance between the challenges and rewards this venture entails.Self-managing, especially given the property's distance, presents unique challenges, primarily revolving around the commitment required for regular maintenance and promptly addressing tenant needs. a property management firm I'm considering offers a fee of 9.9% or an intriguing maintenance-only service at $95 per month.