It really depends on how long you plan to hold and what your long term goals are with acquiring additional properties.  

I'm still learning about this type of lending but the appeal to me is that they don't consider personal income or tax returns, it does not need personal debt-to-income ratio qualifications, it's collateral based borrowing..

So, just like their constant attack/desire to repeal Obamacare, they looking to go after the IRA Act just like they are trying to kill the additional funding to the IRS. 

In addition to the areas named by Jay, I would personally add Scottsdale, AZ, Columbus, OH, Richmond, VA, and Cleveland, OH.

Alternatively, or additionally, you can attempt to secure ownership of smaller properties utilizing one of the possible “nothing down” strategies.  

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

I had done a COR from the ones I had, to buy additional ones.

Would it be best to establish additional savings accounts to hold deductions from my anticipated operating expenses (management, maintenance, misc)?

We attempted to get the sellers to take more money and offered them two additional options one with an extra $35k, via Subject To, and the other with an extra $70k with both Subject To and a partial seller carry-back. 

I don't write off debts unless they're too small to bother with.