Certain markets are seeing strong price increases, with Sellers listing high and getting it.  

You need to get a good umbrella insurance policy, a strong lease, defined rental criteria for potential tenants, and partners in place such as handymen, and an attorney to handle possible evictions etc.

All have been great for 4-5 years now with no issues at all.For me the cost was not much higher than a 45 gall HI EFF replacement & definitely lower than the old style 75 gall we had to replace in a 5 unit.

Below I will provide an overview of a property that looks to meet most of the underwriting criteria I've established for a viable investment e.g. 75% ARV test, affluent neighborhood, great school district, strong resale market, etc., but thought this information would be useful for those who might answer. 

Seems like a desirable place to live, with strong growth potential as well.

Rents are strong in Iowa but don't tell anyone.  

One thing about the areas that you're looking at is that there are some very strong, sophisticated players that you'll be going up against.

I have a strong tax / accounting background as well with an undergraduate degree in accounting and I handle tax law issues from time to time.

Probably a recipe for friction, conflict, delays and strong likihood of you never seeing a payday (and strained future relations, if any). 

Meanwhile, I was building credibility with them by showing a strong work ethic and that I grasped the concepts they were teaching me.