Hey BP, I’m looking for any advice that an amateur investor like myself can use in order to locate and determine a less expensive market in my general area where I can purchase and rent out my first property.

Be prepared for extra expenses on the interior part of the home because of the non conforming shape of the building that creates alot of customization for trim, drywall corners, cabinets, built in's, etc. 

So any way you can improve operations (raising rents, reducing vacancies and expenses) will have a compounding effect on how your business is valued (code for forcing equity), allowing you to potentially refinance and get cash out of the property to use toward future acquisitions.Tenant experience. 

Even if the rent is real, you need to discount it to account for expenses.

If you do it right you can live for free, lowering your expenses and allowing you to save up for the next property.

If I had it to do over again, I wouldn't buy the 2 year old brick house with crown moulding and granite throughout, more expensive flooring and higher-end appliances.

I'm aware that closing costs and holding costs will also be much, much, much more expensive. 

The real issue here is not expense but timing. 

She has helped me figure out the best types of insurance for rentals and flips alike, including unusual situations and is almost always the least expensive to boot. 

Incidentally, this is one of the reasons why larger businesses work with very expensive, large firms.