It's a good place for networking and growing your career.That being said, it's a terrible place for real estate investment.

An 8-10% CAP rate in a small city for a total rehab seems like an absolutely terrible deal to me...if somebody goes by the building  you should post some photos and an address to help add to the discussion.

most end with  terrible results 

I was thinking of getting another property but it would wipe out my reserves and truthfully I would be terrified to get any other properties without cash reserves.I am looking for a partner or at least an emergency source of funding if something terrible happens.

Numbers are terrible.

I have ~10 years experience in real estate, but the market near me is terrible for cash flow.

From my personal experience, I did not like my first investment for a while because the Condo association was terrible.

Not as high of a rent as I would have liked for the value of the home but not terrible in the same breath.

Scott, for what it's worth I had a terrible experience with Bridge in KC.

Absolutely terrible and do not look like they will get better anytime soon. typically the farther out and south you go the better they get but also it gets more expensive the farther south you go.