I used 20% vacancy, just to be sure not to over estimate my profits being generated and also a fair to low daily rate, which will only fluctuate up in better then poor market conditions. 

Recently, we slowed down a bit (as usual), but see things picking up again for the fall market.

Yes, we've picked a GC, who is local too.3.

Oh well, I told her to start reading Rich Dad, Poor Dad and maybe we can incorporate her into our conversations!

I am new to investing and I want to know how to pick out where to invest.

Looking back, it’s kind of silly but the first book I read that got me started was, you guessed it, Rich Dad Poor Dad, that same week I also read The Richest Man in Babylon (which I think was mentioned in Rich Dad).

I have lived here for 7 years so I am pretty familiar with all the areas but am having trouble picking a neighborhood.

If you haven't yet read "Rich Dad Poor Dad" by Kiyosaki, do so as soon as you can.

Electric heating in an old presumably poorly insulated building in the NE is very expensive. 

I still look, but I have only picked up one house this year from the auction.