I will say that while I don't have experience in CT, it seems that the area(New York, Mass) is fairly tenant friendly and would assume CT is as well while FL is more LL friendly.Also I googled and it looks as though CT has a net loss in population between 2000-2010, while FL had a net gain of 17%.I will admit I am probably biased being a FL boy born and raised, but those factors along with no income tax, lower cost of living(which can translate to cheaper repairs), and lower price point for properties would lead me to FL.Now the disclaimer, I have been seeing prices run up the last year due to tons of foreign investors it seems and FL, Vegas, AZ are those areas hit hard by the bubble due to lots of speculation, so I would be cautious of that again because it is completely possible that there could be a mini run going now, however if you buy right and are getting good cash flow I think that that becomes less of a concern since you are focused on say 10 years from now not next year.

The rent is a bit lower than average around Austin which translates a lower cut for the PM and for this type of property, means more work.

Of course about 8/10 of my tenants translate this to mean rent is due on the fifth.

Tenant further agrees that all alterations or repairs to the rental property will be performed only by personnel approved and sanctioned by the Landlord in writing.While not in "legalease" you could have your Council or paralegal translate it into formal clauses for inclusion in your lease document {we purposely try to keep our Schedule A in everyday language, but did have it reviewed by our Council}

Since an increase in cash flow translates into an increase in value when valuing real estate via the income method, even junker rentals will increase in value at around the rate of inflation, like nicer single family homes do.Now, I'll bet some are thinking about neighborhoods where junker prices have either stayed flat or gone down over time.

Pretty sure I just sent a rental app to an email address that translates to, "I manage hookers and smoke weed!"

if you purchase this property without disclosing to both parties that you are in fact making $50K on the transaction by "pushing papers" you could wind up paying treble(3x) damages to all parties involved, that translates into 2 parties, times 3 = 6 times damages, or $300K.

Mine just translated from my native language, that`s why the spelling is a lil different.

It is absolutely against the law for a transaction broker to "look out for your best interest"...and in simple translation...that could cost you thousands!  

Also, just because he is a great friend doesn't translate into a great working relationship.Have you considered just hiring him for his work?