In 2008, I noticed that his area did not really take any major hit to home price, maybe stayed same or bit lower, during the recession that hit silicon valley.

Just look at towns along train lines who are all enjoying major redevelopments (ie my hometown of Bloomfield). 

@Upen Patel do you have non conventional products for rehab?

We are very naive and trusting people, so we had major issues with contractors (had to fire the first one) giving us proper estimates and following through on their work in a timely manner, and sticking to budget.

We also have access to many more products than that of your bank or credit union with minimal overlays. 

If they do taxes for regular paycheck workers for the majority of their business, then they may struggle with your taxes as you become more complex. 

You can find out boatloads when you have a conversation in person and are present to secure the property.As for the lock... the major brands all offer "keyless entry locks".

Would it be worth it to spend the extra money on a little better of a product? 

@Brian Schmelzlen  Our approach has been to identify the target markets we want to be in, then choose a broker who understands exactly the product type we are looking for and is well-connected in the metro area. 

If you own something directly in a major metro, and it is not too much of a financial pinch to prevent you from steadily adding to the portfolio in a less expensive area, keep it.