A MFH in downtown Dallas in a safe environment is not going to cash flow.

In today's competitive environment, that gives you and advantage.

I have been really working on creating my systems to ease the process of a flip, as well as set up my business in a way that it can scale.

Such as ease of renting, how long tenants stay, how well tenants take care of them, and of course which one makes you more money!

Be careful that you're not paying too much for the property because of the (potential) ease of getting the loan.

Leverage seems to be a key ingredient of real estate; however, this creates a taxable income (unrelated taxable business income) in an investment vehicle that has an otherwise tax-free environment. 

I’m in awe of how some people can live in and more importantly create such a horrible living environment where CHILDREN??!!!

That helps a lot (and eases my mind quite some!!).   

Your time-and-stress value of money is guaranteed to be different than mine, though, so chart your own path.In your situation I would also be considering the stressed environment case.

I should be pulling for chicago but Illinois is in the worst financing situation and has the worst business environment of any state in the US that I just don't see why any company with half a brain would ever want to locate here. :-)btw: There was a second article today in the tribune that says apple is looking to find a location for its 2nd hq as well.