You are correct on location. 

I would also contact every local community bank within 50 miles of your location and meet in person with them on your project. 

-make sure you have your numbers down (when evaluating cash flow and be super conservative) 
-nail down location and figure out if you want to do buy and hold/ flip / etc. multi family vs single family etcGood luck!!!

My leasing agent thinks the applicant is fine and I’m a little hesitant so would greatly appreciate any thoughts.The property is a nice 3 bed / 2 bath built in the 2000’s in what is probably a B location around Atlanta and is currently renting for $1,100/mo.

Another factor is the location. 

We did not  have a model unit to show,, I showed occupied units with notice and was usually rented up within 2 weeks of notices, we had a popular location and units were a little higher price but in high demand. 

Those are all very different locations too so it depends on where you want to own. 

Its possible that the location might be decent as well. 

Sounds like location may be it for you. 

(Located about 45 mins outside the GTA)1st Condo  = $120,000 CAD         2nd Condo  = $130,000 CADRent paid =  1000                           1000Expenses Condo Fees =    290                        290Property Tax=   100                        109Mortgage =        540                        590 Total =                930                        990This is a basic cash flow for the 2 properties I put together quickly and I believe rent could be increased as basement apartments in the area go for 850-1100 and condo's go for around 1100-1400.