I might go past 12 months, for example, when a lease is starting just a bit before the hot rental season (say a Feb move in, I might go 14 or 15 months then).Signing a long term residential lease locks in your rents at whatever numbers you set up front ...

I could go on and on about the complexities, because it's a hot topic these days.

But no central air means I need some sort of AC in the house during the summer (Im in Virginia so it does get hot).

If the market is hot in 6 months I will make more.Having said this, I know investors who look for hot markets and pay no attention to cash flow other than not wanting negative cash flow.I prefer my way.Hope that helps.Bill

If it is on the west side and too hot?

I also am certain I won't be buying a home for 1.25% of market value, but I think that tax delinquent owners will be motivated enough to sell for a good percentage off of market value, enough to get investors jumping on an assignment of contract in such a hot market such as West Oakland. 

Finally, if you are willing to come to the Hot Springs area join one of our Real Estate Investor MeetUps.

They do pay for their own utilities, but my question is ; does keeping an HVAC at consistently hot or cold temperatures increase wear and tear?

You should be aware, though, that Hillsborough was hot in 2005-6 before the financial crisis. 

I always learn best by doing and by shadowing people so hopefully this late spring and early summer I can find some hot shot investors in the area and start picking their brains and helping them out along the way.