This is an old post, So since I originally posted I have learned that LOCAL Investors are heavily considering Sweat equity (not worth their time compared to other opportunities in other zip with faster turn over)  and out of state investors are discouraged by local property managers that hate the turnover and constant work on these zip codes. 

MY goal of "establish" is loose, I'd like to have a team in place and begin to heavily research deals, anywhere.

Anthony,If you plan on being a landlord for a while, I’d be heavily involved in the process even if you hire someone.  

Unfamiliar with landlord-tenant rules, local laws, and customsSome markets have laws that are heavily in favor of the tenant.

If you look at a lot of data that comes out of markets that are within the top ten and twenty of most heavily increased in population due to work, and or affordability the Inland Empire along with Riverside County/Riverside is always one one of those lists.

I don't need to know manufacturing demand since I don't buy those, they dont compete with me, demand for my product isn't heavily driven by it. 

I work heavily in the STR market here in Orlando.

The book heavily investigates the 18 year cycle and it's actually really compelling and eye opening.

In full disclosure: I am the current Chairman of the Board of Directors for the Illinois Manufactured Housing Association, have served on the BoD of other state associations, and am heavily involved with the Manufactured Housing Institute.First, I think the only stupid questions are the ones that go unasked.

To start, this is a brief overview of what I have gathered thus far:Condos:Pros-Low Risk (big expenses are covered by reserve fund)-Low cost-Easy to rent (multiple exit strategies)Cons-Low Reward-Hard to find deal that are worth it-HOA or Condo boards can be a pain (regarding all aspects)-Directly affected by any/all units in property-Susceptible to changes regarding condo fees, bylaws, and management.SFH:Pros-Autonomy-Easier to find deal/larger spreads-Can be unique, fate does not rely as heavily on nearby unitsCons-Much higher risk of large issues (plumbing/mould/structural)-More square footage (on average) = Higher cost for both property and renovation...Now this may be all wrong, but if any of you have any insights to add, remove, or add for townhomes or MFH please join in.Till then,Brandon