@Terry Landon might consider first where there are fewer gyms and then places where there is foot traffic of your target clients.

This has a degree of danger though as the wires will be live unless you pull the meter outside. 

Oil is currently hurting (as in Houston), military at be facing cuts, and if the economy swings, then ancillary spending will be cut thus fewer vacations. 

Echoing and expanding on Charlie's good points--the mass lead law is "strict liability" meaning you are responsible pretty much no matter what actions you take, fail to take etc. practically, there is litttle danger in a well maintained place but...One of the reasons the lead mitigation etc is so expensive is that the remediators are taking on some of that liability.

HOWEVER, It is reprehensible and dangerous for a novice to go out with a cobbled together hotrod of a plan and not even be aware it's not even street-legal.As with wood-burning stoves--first you put the wood in, then you get the heat out. 

@John Morgan 15 yr mortgages are dangerous.

Getting into the 'real estate never goes down' mentality can be pretty dangerous.

Will they move to new markets completely with fewer regulations?

And the landlords are very happy to have homes professionally cleaned regularly, have fewer turnover repairs and costs once the lease is up, and make more money since they could charge premium monthly rent with no hassles.

There are even fewer markets where you can get high cash flow AND high appreciation.