There is a higher turnover rate and vacancy rate there, But just analyze your deals like you would anywhere else.

Pre-Housing Crises (pre-2008) interest rates for investment properties were 6.5%-7%.

I refinanced to a mid 2% rate a few years ago and did not want to do a cash out refi.

What if you can't refinance due to appraisal, market conditions (interest rates, outside "black swan events" like COVID, etc.). 

Census data - median household income, employment stats, bachelors degree percentages, crime, vacancy rates, appreciation2.

@Jennifer Ross, I live in Niceville it is safe and has the best schools in the area.

Most of mine have infinite ROI, but I have 3 that for various reasons were not  refinanced to extract my investment (one had no value add, the other 2 have not been refinanced to extract the over $1m value increase due to rate increases). 

The loan amount is $1.5M.Here is what I am trying to beat:-15 amortization (client would like 20 if possible)-rate is Pime minus .25-.50-.1 pt.

If they are month to month, you can purchase the property, provide 60 days notice and have them vacate in order to rehab and bring rents up to market rate.

That's 8 yrs of hard schooling 'after' 4 yr college.