Or should I just pick an area I already know and go with it regardless of whether or not it is declining or rising.

I'd like to take you out for a bite to eat and pick your brain on the concept and how you are using it. 

I am interested in buying two properties - on a scale of A-C, one in a class A neighborhood, and while I don't think the math would be quite there at the higher end, I'm open as far as budget, and another in a class B neighborhood that's shaping up well. 

If I am not experienced or not done anything before and first timer, I wouldn't have picked it up just by looking at numbers.

You could pick up a cheap thermometer/hygrometer and see what the relative humidity is in the unit.

The paths to finding them, financing, etc. all start to change when you look at 5+ units.That aside, pick 2-3 markets you think are interesting.

You will go positive at $110,000....but barely...get the number down to $95-100k and then you've got a property....As you mentioned you're searching the MLS...many of the good deals there get picked over really fast...especially when the market it hot like it is now.

 @David Ahrens 8% takes some work in Omaha. 10 months ago you could pick properties up off the mls and turn the key and get 8%.

I went to a REI class this weekend and they stated FL is a super lien state and in many cases would clear the first mortgage IF the mortgage was after July 2008.

I’d buy two multi family homes in c class neighborhood