The food goes quickly!

Just food for thought - there's never a 100% right answer to these questions, only a choice between opportunities. 

DH may get some inheritance when his mother passes and we'd like to use that for investing.REI came up as a plausible option after DH went on for a while about starting a food services business; neither of us have experience or frankly, passion, for that, so I nicely nixed it and suggested rental properties.So, now I'm the point person!

If the place stinks of cat tell him he will be paying for the cleaning.Your other option is cat food and rat poison.

(You can use Zillow.com to look for school classifications/rankings).Rents are generally lower, and vacancy might be higher due to higher turnover of residents.Amenities are not great, and might have more fast food chains, car dealerships and pawnshops that other businesses.D locationA D location is to say it bluntly a low income demographic area, and will very often be marked by high levels of crime, poor schools, abandoned buildings, and sprawl.Regardless of the quality of the building and amenities, and the location, I have met, and continue to meet investors who specialize in all sorts of locations and with all sorts of buildings and amenities.

Mold may grow and exist in any structure where there is, or ever has been, a presence of moisture and a food source for mold to grow.

Here's some food for thought:Before you make your first investment, meet with a mortgage/financial professional.

The people at the top of the food chain (picture little old ladies who paid 15K for houses now worth $1.5mm) don't want their neighborhoods to change.  

I would argue, negative value, after you include cost of flight, food, rental car, hotel, time away from work, time away from family, time away from your REAL role in real estate which is finding the next deal.ALL THAT SAID - I think there is huge value in spending time on the ground and building relationships with your team - going out for beers with your agent, your property managers, your project managers/GC/contractors, taking an interest in what they're doing, reviewing their projects, ensuring their goals and ethics are still aligned with yours.  

Even on top of a solid plywood subfloor and concrete cement board, porcelain tile will crack if something heavy is dropped on it, like a can of food.