I have been investing in South Bay and East Bay. 

An think sober-mindedly about the market you invest in.Also agree, North-East is hot right now, but it comes at a premium to get in there.

It's aggressive, but you could meet them in the middle and do an update or two and/or offer to get them on rental assistance to pay the new rent. 

Last year I bought a gorgeous 20 acres country property in a famous small town in the middle of a forest with a 2008 built house in like-new condition. 

More cash flows from (it can, or it can't--it's risky) more run down areas (read that can be Dangerous areas) than the middle class areas, but they can cash flow too.Decide on if you are a Class B or C guy (Class D is usually not a good move for a beginner, due to the roughness and issues of the area).You will need a good accountant for taxes and bookkeeping, and an eviction attorney.You can self manage or hire a manager.Good Luck!

I think its important to find a middle ground that is comfortable for both you and your wife.

I am primarily looking at properties in Hilltop, North Linden, Franklinton, and the various areas east of downtown.I have called a few property managers so far and they are not very responsive.

I can share with how I ended up in KC and passed on the East Bay. 

I think targeting C class areas is the middle path that makes the most sense for returns.

I just read an article about strict STR enforcement in East Stroudsburg.