@Rick Thompson Everyone's risk tolerance is different of course, but all things being equal, i always recommend that our clients stick with 20-25% down.

That's lower end entry...there is a wide range in Denton and there are opportunities, depending on your risk tolerance to look at higher end...in Denton County we are still undergoing strong expansion and are seeing spill over of development around the top of the lake. 

Maybe if you have off the charts risk tolerance...... but someone wanting to retire probably A) doesn't want to deal w/ master lease and B) doesn't care to learn about the benefit of a master lease.Even if avg price was 50k, how many people w/ almost 2mil cash for the down payment or who can qualify for 7+ mil loan are going to want to invest in Mesquite, TX (which has less than 200k people)....

Ultimately you will create your own standard based on risk tolerance.

Im starting to see that he isn't managing his business worth a darn, is obviously understaffed and overloaded at the moment, and is taking a few serious shortcuts that I simply wont tolerate.

For instance, at the far limits of what this society tolerates in terms of violent behavior is the local police and their weaponry.

Lastly, appreciation may be tough to come by so need to find value-adds in a market already saturated with rent options.I typically stay North of 190 but there are definitely other pockets that make sense (it's also all relevant to your risk tolerance so don't want to make a firm statement here)  Dawn Anastasi is a Milwaukee investor who was on a BP Podcast and has written a solid short eBook on Milwaukee.  

I wouldn’t have the risk tolerance for it.

If you decide to re-deploy the capital, what is your tolerance for investing out of state?

@Brandon Turner No hard and fast rule as this is dependent on your lender, personal risk tolerance, market, property type and tenant quality (among many things).