It's probably necessary to make regional adjustments based on quality of life.

What are your experiences on filing vacant good quality units in that area? 

We have put a higher quality vinyl planking in our units and the flooring is water proof and very scratch resistant.

Similar question about the specific quality of a neighborhood.

What is the best way to word the addendum so I can control the quality of the work hand materials being used.

If you have a chimney that is usually the point you'll see if they did quality or shortcut work.

Some families are looking for a yard for their kids to play, but a smaller yard has not yet deterred potential tenants, especially if the quality inside the home is great. 

I'd like to build a 3 family unit and I'm going to live there so defiantly higher quality.

Pro: Higher day one cash faux.Con: You need to hop on a plane (or long car drive) to visit your property, which leads to ...Con: You are less familiar with the market.Con: You are 100% dependent on complete strangers to make or break your investment for you and keep your best financial interests at heart above their own.Con: Can't easily verify work is being completed in a quality or timely manner.Con: If problems do arise, it will take you longer to find out and they will grow larger in that time.Con: If something goes wrong that your team can't fix (or in all likelyhood caused) then it is harder to for you to step in to fix it, stabilize the asset, and recover.Con: Lower appreciation and rent growth ... if you think this is speculative and not consistent, then review the last 50 years of price trends in the market you are in now vs the out of state market you are considering.Con: Lower tenant quality.

Higher turnover might be an issue but I feel like the overall quality of renter will be above average.