Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

I agree with your concern about flanking in the basement from the dog bark.

It's sustainable business.As far as I am concerned there will always be a place for both good clean rentals in nice buildings and first time or the downsize priced property.

Be sure to check out the Ultimate Beginners Guide as well as my 10 Rules of Successful Real Estate Investing.

Build your foundation below.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Primarily I am concerned about if I choose to buy and hold, how do I predict an upward growth trajectory in regard to the construction quality and thus the "word around the campfire" about the subdivision.

Providence is a great market.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

I think others have addressed those concerns.

Have you read the free book on here, Beginners Guide ?

A good way to begin maximizing BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.