@Michael Dunn you should also note that depending on where your property is, you may pay City and County taxes.

It all depends on the cash flow.

I guess it depends on how many properties have sold in that area/neighborhood in the last 60 days and for what prices those properties sold for..I just don't want to get a Property in a not-so great ( But NOT terrible area ) , with the sole intention being to sell it , and when I go to put it up for sell......

Sounds great to me all depending on the headache of tenants, location, building.  

I think the answer is that it depends on what your business model looks like.

I think it depends on where you live.

@Rainiel De La NuezThe advice you seek greatly depends on what you plan to do five plus years from now. 

It depends on the capital you have available.If you have 200k cash and put 10k down on the property in Memphis then overall a small percentage of your liquidity.

This should depend largely on how the property is deeded.

  * Your really a Land-Lord and you have tenants and that number of tenants depends on how many lots you have.