There is no industry or diversification of employment to drawn stable tenants, as well as to bolster the prices of houses. 

We don't expect the property to have much capital gain, the market price is fairly stable (don't expect it to fall very much either). 

This is an established stable neighborhood.

We look for states/MSA's where there is stable market appreciation, positive employment trends, decent population density and lower risk of climatic volatility (hurricanes, tornados, etc).

If the property has positive cash flow, does not require any repairs or upgrading, and in a market that is stable or even better growing in value - -then you found a great investment property deal for serious consideration here.With some solid research you can find out a lot of decent information on both the subject to and lease option strategies here on BP.

I have pretty good credit and a stable job that I make 6 figures and want to explore building wealth outside from a paycheck.

I currently have excellent credit, a very stable job, and a little under $20K saved up that I would be willing to invest into a property.

People will always pay more for nice neighborhoods and I believe values will be relative stable to up long term.3) As an investor, many areas on the South and West sides have a better ROI.

Where properties on the West side seem to have a more stable tenant mix, you will also see higher prices, and a possibility of having a less quality tenant than a building in the East (depending on the area).  

This creates a stable environment for the note holder.For Non-Performing Notes, having an NPN with a healthy Equity position is in your benefit should you need to foreclose on the property.