So I jumped on my computer, found a property that was good and required little demand from our shrunken wallets, then set up an appointment to see it.

Supply is dropping, demand is increasing, affordability is dropping, banks aren't lending, but sales prices are increasing.

When you get further away from the population centers there can be larger swings in demand.

I get this from one of our neighbors- a rental if it is run down and has loud trashy tenants and cars on blocks would diminish value and rightly cause neighbors anger-- all our rentals are in well established developments-- I give my card to both side neighbors and ask them to please call us if there is excess noise, traffic, residents,etc-- it creates much good will & I also tell the new renter that we have done this with the neighbors-- it puts renters on notice that you will find out about unmoved lawns, animals, etc. as long as your home looks like a home and not a shabby obvious rental, your neighbors will calm down.

Some of the sellers of real estate there were apparently demanding to be paid in an alternate currently other than the argentinian peso.

As to unfinished projects, still building, ensure the other phases are under separate assessments and if not consider contingent liabilities as to contracts and projected debt coverage, lease up or sales of at least 2 years, look closely to the market demand and scope of project.

An extra bathroom is a fantastic investment and will attract extra demand.

I would demand the Fed schedule-E, the maintenance logs, the vacancy/occupancy data ALL for two years each.In Calif, more than 15 units requires, by law, a resident, on-site manager. 

Then you need to figure out what someone might do with these properties and if there is any demand.

Make sure you understand the time demands on owning rental properties versus your business or job.If you buy in great areas the cash flow tends to be low but more rent growth and equity buildup.