Wauwatosa is a top choice, Washington Heights offers a similar feel minus the school district and at a lower price point.

It is YOUR choice but I do It…. anyone paying that little in rent will come out with the waterworks in tears to get you to not do it.

Just do your research and make wise choices.

Income/GRMs tends to vary widely in 2-4 unit properties and is not very consistent in my markets and therefore, typically doesn't seem too meaningful in my 2-4 unit reports.Won't the lender make the choice to lend on Comps or Income (???)

This is a typical supply/demand phenomenon, but it also is generally a function of their prowess in being able to market the opportunity properly and thus have the right conversations with suitable investors in sufficient quantity.  

It also looks like Rent Redi is a good choice to manage properties, especially with it being free through BP. 

Trouble is, when the choice is between logic and emotion, emotion usually wins the battle, but in the end loses the war.

Do not buy where state or city populations are static or decreasing.Low crime - People with sufficient income will move away from cities with high crime levels.

However, make sure that you have a lease agreement in place and that they have the sufficient income.

I can go LTR as we have had it for some time but prefer to have the choice.