I would anticipate a primarily residential to be there, but primarily commercial might be around mid-9s to sniffing 10, based on where the 10-year is and how it would cash-flow

A careful present value of the two strategies would need to be made based upon a specific investor's circumstances, goals and objectives to determine which would be best for them.  

If the resident has issues with the quality of the housing such as a failing roof or HVAC issue we would advocate strongly on their behalf as well.

Never a bad idea to look at the comps - this should help give you some direction based on your specific market.

Is it best to pick the location based on ROI, or is there other important factors that a newbie may overlook?

If I get multiple apps I will start with the ones that appear to be the best qualified on paper (based on income, length of lease desired, past rental and employment history) and I'll run those first.  

Martin writes about measuring your current cash flow based on your current equity. 

Hopefully everyone will get some strong drops in costs and allow new buyers to move in.

I finally landed a deal with a Major Restaurant group with strong sales and negotiated an absolute NNN lease for more rent for the next 10 years. 

This gives me a Net profit of 82K which is an Average Annual ROI of 57.4% based on the total 18k investment.