So if you invest in low income areas in Atlanta, school ratings won't be an accurate measurement of desirability for the tenant. 

I didn't have a tape measure with me (I normally do, but that one time I didn't) and when I paced it I think it's like 10'X10', both rooms.That seems too small, I am picturing a queen size bed being tight with one or two night stands.Is there a minimum room size renters consider when selecting a rental? 

However, as the time passed and I educated myself more, I realized that real estate investment and management is the right career path for me.Now I am aiming to get back into the industry through property management as I find that to be a quite interesting profession, for which quality firms are allegedly difficult to find (I say this through my own experience and through reading BP and listening to the podcasts).  

Locks don't deter thieves as much as keeping honest people honest, your measures should first at least require more serious illegal acts that carried penalties more than just trespassing.Automatic gates can be a PITA, they do break or misalign, it's a mechanical thing.

A FROR doesn't state a price, if a price is stated that can be seen as an option being agreeable to a seller, if you finance a FROR, let's look at consideration for that right, the value.It's really worthless, the value can't be established other than from an intrinsic value which can not be measured in a market, simply being notified that someone can have a future opportunity at some unknown price has no standing for valuation.

Start with Frank Gallinelli's "What Every Real Estate Investor Needs to Know About Cash Flow...and 36 Other Key Financial Measures."

Gross income 3x rent is a common measure but generally it is applied to the group collectively not to individual members.

If I can provide quality rentals at a fair price, that's what I'm aiming for. 

Delinquent real estate taxes (taxes past due by more than 60 days) can also be included in the new loan amount, but if they are, an escrow account must be established, subject to applicable law or regulation;paying off any outstanding subordinate mortgage liens of any age;taking equity out of the subject property that may be used for any purpose;financing a short-term refinance mortgage loan that combines a first mortgage and a non-purchase-money subordinate mortgage into a new first mortgage or a refinance of the short-term refinance loan within six months.The article author may have been referring to the Delayed Financing Exception:Delayed Financing ExceptionBorrowers who purchased the subject property within the past six months (measured from the date on which the property was purchased to the disbursement date of the new mortgage loan) are eligible for a cash-out refinance if all of the following requirements are met. […]The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV/CLTV/HCLTV ratios for the cash-out transaction based on the current appraised value).

Be careful of contractors who start measuring walls.