What you would if you were us.All suggestions and critics will be highly appreciated.

You need to analyze sales, listings, rents, demographics, trends etc.The more you know, the quicker you can analyze a good deal or a bad deal, and make critical decisions, and take advantage of opportunities.

Similar to buying any type of rental property it is critical to educate yourself to the area and from my opinion go there and get some "boots on the ground."

Pricing is critical.

How critical is popularity such as votes, mentions, and connections?

I welcome feedback, suggestions, comments, even critical feedback, as no one knows everything, and I fins value in everyone's input (even the beginner, who might see things differently with a "fresh set of eyes."

Austin, the critical first question that every investor needs to answer is WHY am I investing in real estate?  

(I get criticized every time I point this out but) The $218,000 you are putting down would provide a better than $10,000 PER MONTH positive cash flow in Detroit and Detroit suburbs without taking on new debt.

Appreciation is critical to building wealth in real estate and without it, building a large rental portfolio is a much slower process.

Anything is fair game...criticisms of the area, check...of the cost assumptions, check...criticism of taking it right off the MLS, check.Thanks,Chaz