There are unique requirements for different concepts from mechanical systems, to handle the kitchen equipment, hoods, water heaters etc.

Each neighborhood has its own unique features, pros and cons and whether something is a "pro" or "con" is more subjective than objective depending on each investor.

They have appreciated well,  we might be in a unique situation being in an excellent school system in a high income area---condos are how people get into the school system.  

Sometimes I get shiny object syndrome and go do a flip (just closed one this past week :))  or decide I'm going to explore AirBnB in my area or just drop a little mail campaign to try to buy more houses to flip. 

One objective of that mindset seeks to maximize net profit, which often requires hiring the best talent.

Then, you've got to get the city on board because these are going to be unique properties.

Same equal opportunity housing laws apply - cant discriminate based on age, race, disability, religion, family size, etc.. so technically all those ads saying ‘Room for Rent - perfect for college student/ one person/(or other caterings) are ‘illegal’ and can be considered discriminatory..BUT those ads are very common and it’s unlikely anyone would pursue reporting ... nevertheless, you could be opening yourself up for potential legal consequences so I just keep my ads/posts very generic and objective stuff about the room/house, etc.Buttttt, one good thing owner occupied properties, you CAN advertise & select a tenant based on Gender!

Yes, these areas are unique markets where initial cash flow can be difficult at first (unless you put a larger down payment).... but the long term appreciation in equity and rent wins the game compared to other areas where most invest looking for initial cashflows.  

The problem noobs run into is almost never the list, it's instead the message / offer.The list above are fine starting points, but always best to take them a step further, and segment them by age, equity, area, length of ownership, property type, etc until you have a list of people with fairly similar, and ideally somewhat unique characteristics.

Not only look at the numbers but also match the best possible property type with your objective.