Lot's of syndicators gravitate to warm belt and business friendly states with reasonable property taxes and growing economies.The DG's they have what they call their (preferred developers).

I agree with comments above, as a first time investor, get some properties under your belt first that will make you money. i do believe you have a plan to secure money coming in with renting to section 8, government money will be guaranteed, but you will most likely be fixing the place up every time a tenant leaves. some towns just don't come back, so they only value you will have is the rental income, the asset may not grow in value and selling later may be hard providing no value in the future for your kids.

I should have specified, we are starting with small MF housing to dip our toes in (2 - 4 units) and plan to scale up once we get some experience under our belt. 

It is good to have an re licence under your belt for many reasons.. it makes you more legit on your portfolio.

@Jason Welch  the markets this may work is MI,, OH  Eastern NY  Urban core of any rust belt city.. basically ghetto stuff..

Milwaukee like the rest of the rust belt just doesn't have the kind of growth that creates large pockets of dramatic improvement. 

Hey all, Greetings from rainy panama....óriginally from jamaica....lotsa reggae music but violent down there.....had family in panama so i migrated....beautiful here...plenty jungle, lush greenery.....modern living.....but third world to most who live here.....financially....panama suits retirees or expatriates of the developed world with some money under their belts to come and invest or retire....lots of call center jobs for english speakers.....plenty other northerners migrating here.....the taxis are cheap, food and clothing are cheap....and crime is well under control with armed police patrolling the streets.....there has never been an earthquake here so the city has lended itself to high rise apartments for living and commerce....plenty of them....plenty of competition with prices so you can get what you want for the price that you want...anyone want further info.....post a reply...till then...malcolm

I'm thinking to tweaking the furnace to have blower motor run 24/7 to equalize the temperature between the units.

Although she has a way of hitting me below the belt!

I'm considering making an offer on a 12 unit (would be my first RE purchase)with the following characteristics:Asking price: $585,000GOI: 95,940NOI: 50,91012 2bd 1ba units with rents ranging from 425-595, two of the units are corporate rentals all utilities included and rent at 1,010 and 1,320.Built in 1985New roof in 2005Low maintenance exteriorNo common areas100% occupiedNice quiet small village area.Washer dryer hookups in units, not sure how many have them installedOff street outdoor parking lotTenants pay own utilities Comparable nearby apartment complex with very similar layouts, size and finishes (but with covered garage parking for one car for each unit - snow belt area) rents for $750+.