Now the first argument I get when talking about this strategy is that the average person doesn’t want to manage property, and my answer to that is simple – hire a property manager.

Planning to pick one and stick with it to build a portfolio.What do you all think of these areas. 

The private flood policies usually won't pick up a property that has had a flood loss before, but a knowledgeable Nerd agent will look at all options to get the best coverage possible. @ Chris Happer you are absolutely right a Flood Cert (properly named (ELEVATION CERTIFICATE) can help with the rating for the NFIP (government) policy.

The reason for this is simple - Math!

I would make sure you get an understanding of the market here and pick some core areas you would like to invest in to get a start.

Meet-ups are a great place to network as already mentioned, and in this industry you can really just reach out to most people and offer to buy them a cup of coffee and pick their brain.

Now that they have picked one I can see what you mean about the showing being just a small part of the transaction.Luckily these clients were my parents so there wasn't a risk of me losing them but I can see how that would be a big risk if that wasn't the case.

It entails the following steps:Calculate the Net Operating IncomeDetermine the appropriate Capitalization Rate (or ask your broker)Divide the Net Operating Income by the Cap Rate to arrive at an estimated valueWhile the steps are simple, the underwriting is a bit more complex.

Show them on paper how you plan on making money and which type of real estate you picked. 

Pick a few neighborhoods within those areas and start tracking as much data as you can.