With that being said, the market is extremely hot.

Capex is half of what I use. 10%.My capex includes roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span,hvac 20 year life span, bath and kitchen remodel 20 year life span.

How hot is it this time of year in AL?

You can analyze the market rent by using the MLS or Zillow, Trulia, Hot Pads, rentometer, apartments.com, etc.

People retire from the NE to Florida and then hate the hot/humid summers and go halfway back.   

If you haven't listened to the Bigger Pockets podcasts yet, they're an incredible starting point!

I've acquired a few properties and my major expense thus far has been A/C units "blowing hot air" and few hundred bucks later its fixed. 

Or it might go like hot cakes because lower income individuals want to get in the nicer area, but then you have to deal with lower income tenants, without the financial support of Section 8.

I have pet parrots who are incredibly sensitive to the toxic fumes given off from cooking teflon pans, and am concerned that the ventilation in certain homes may bring my tenants fumes into my own living space.

Above all has been incredible for me and several investors I know.