If you are doing long-term hold, you will also need to consider how you maintain your assets as well.  

When you invest in real estate, for example, and want to maintain reserves, some should be in either cash or a comparable asset such as a money-market or CD, but you can easily put excess reserves and earnings from real estate into traditional stocks, funds, etc. as well - it doesn't just have to sit there.  

The age of the house is important, because even if its a well-maintained house, its going to have an older style floorplan.  

I really did want to learn REI while maintaining the job somehow.  

I had read somewhere that some people use 1% of home value as an annual budget for fixing/repairing/maintaining the home.  

I can live off of that without being to Frugal .. and I think putting $6500 a month off to the side to cover taxes and expenses for the property would be more than adequate enough to maintain the property and pay taxes.insurance,  etc..  

I see the discount places as being advantageous due to the low cost of maintaining a license.

Low income properties and properties that are not well run or well maintained typically have higher vacancy rates and turnover costs.  

.), but you can turn the corner and you'll have beautiful, well-maintained brownstones.

Boulder and Louisville remain high in the price bracket and maintain a steady increase due to limited options for building.