On one hand, I can't see how the market can continue to support the existing price levels when dual-income professionals can't afford to buy even a starter home. 

Don't buy them just to look professional.

Might be worth talking to qualified professional.

They could be for professionals in a specific industry, like high tech or medical field or just general business networking events.

When I wanted to setup an LLC for my self-directed IRA for instance I used KKOS lawyers from the west coast because it's something they specialize in.I don't think you necessarily need to be local with those professionals unless you really want a face-to-face relationship. 90% of whatever you need will happen over phone or email anyway even if they're in town.

Second, the point of posting a property for rent is to receive inquiries, so if you are not in a position to promptly respond to them and show the home, you may consider hiring a professional management company to do this for you.

@Dave Foster apparently agrees with this point, and he is a professional exchange intermediary.Yes, there is some debate about that spousal issue, hence the 50% warning, but I don't believe their concern is valid.

Yes your plan is possible and there are other investors/professionals up here marketing as well. 

And I am dealing with educated professionals in the 250K range for annual income.

HOA fee - If HOA fees are not paid, business will incur fines, so it is necessary to make the profit in the business.8) Marketing expense and advertising9) Cleaning and maintenance10)Commission (Expenses like commission, abstract fees, recording fees to obtain your mortgage are not deductible but rather capitalized )11) Insurance12)Legal and other professional fees(Tax preparation for business, not personal part)13)Management fee if applicable14) Points- you generally cannot deduct the full amount the first year but have to deduct them over the term of the loan.15) Repairs (Note always do repairs rather than improvements to rental because repairs are deductible right away and do not have to depreciate over few years as done for improvements.