That is when families with children move because it is between school years and most convenient to avoid changes mid-school year.

@Zach Holmes yes, buy & hold would be the easiest to manage while moving around.Maybe pick one or two strong lateral markets, like the mid-west [not volatile markets like Vegas, Phx, etc] and just sticking to those areas the entire time you are moving around?

Of particular interest are hot mid US markets from MN to TX that one could access easily from SNA.

@Brittney Lynn it is normal to be nervous, don't let analysis paralysis set in, but take a hard look at the numbers and the feedback I am sure you will get on the forum.A few things I saw:Vacancy at 3% might be right for NYC, but you need to make sure you have a good reserve fund counting on $1000+/mo rents in case it takes you two months to fill a vacancy if you end up evicting someone, or they leave mid-month and it takes a few weeks to turn the property.Depending on the age of the property I would definitely increase the maintenance to ~7% at a minimum as things will come up and unless it has been recently rehabbed I would expect plumbing, etc issues to be common plus any costs to prep the property upon a turn(unless you are counting on CapEx for that).The one thing I didn't see you mention was Property Management.

Just finished "The Demographic Cliff" Harry Dent,Mid way thru "the Snow Ball" Warren BuffetUp next will be "The Stock Market Cash flow" Andy Tanneralong with several Fitness Books I've been neglecting to read

Welcome @Michelle A.I think we will be having another Chicago meetup mid May - once I hammer out the details I will let you know

I purchased a duplex from PFR, closing mid-December of 2016.  

I believe it is called Mid Mo PREIA.

It is never a good idea to assume an area will appreciate but there are not many places like 'this' within NYC so I am confident it will be at least stable.My assumption with the higher prices is that these sellers have been holding the propety a long time, saw the boom of the mid 2000s and think they can get a price point near these highs.With regard to the living next to tenant issue: others have done it as their first investment property and I am not afraid to do so.

Bought at auction -- mid 30s.