It's important for investors to do their homework and make choices based on their goals and how much risk they are willing to take. 

As I've been looking for a while close to home, I'm considering expanding my search to anywhere around a 5-6 hour drive away (my parents and younger siblings still live in SD, and my work which I can do remote/flex is based in San Diego).I'm considering new markets and interested in feedback on what areas anyone suggest I start to narrow in on. 

Contact Hospitals/Government Bases/Companies directlySection 8/HUD (LTR)

So the amount will vary dramatically based on the home price. 

On a side note, I am looking for recommendations of other management software. 

Based on comps from sales in the current market.2) How much will it cost to get the unit saleable?

All new LPs should at least run some of the ugly scenario numbers, based on the legalese in the OA/PPM etc. and see if the docs are really as risk aligned as they should be and/or are claimed to be.Most PPMs list a fee as a percentage and not with the dollar amount.

I came across this software that seems to do it for just $650.  

The other two units that you yourself are not occupying have to cover mortgage payment based off of rent schedule.

This isn't even close to a comprehensive list, but the point is that you need to learn the pitfalls of each building based on the year it was built and do the due diligence so you don't buy a lemon.