Pre-understanding of the area/market, willingness to fix and live in an outdated and damaged home.

Goto some networking events in your market and see about teaming up with local investors on your first one.

The stock market has been on a tear this year… so if you could make 25% on your money in the stock market (as has been the case year to date), you are better off leaving your mortgages in place and investing the money in ETF’s, etc.  

My expertise lies in the vibrant market of Pinellas County, where I've honed my skills for over 7+ years.

It depends on the strength of the leases, quality of tenants, and about 17 other factors.Are they paying market rate?

Hopefully someone from that market will chime in and make it easy for you!

What I'd look for is whether the bank/seller will consider any repairs whatsoever.

@Karl KauperManayunk, East Falls, Roxborough, Fishtown, Northern Liberties, and University City are safe neighborhoods with diverse populations and strong rental markets.

A lot of sellers overlook this simple step of trimming the shrubs and trees away from the home.

The seller could simply retain the deposit.