I just usually sigh to myself and click on the next thread.

Of course, property values dropped in 2008 like they never did before so there are always exceptions.If you talk to the investors with decades of experience, they'll tell you that the blue-collar rentals are usually safe.

Just remember: most negative reviews are written by problematic tenants.

And not usually a good one for retirement.  

You can get an FHA loan for 3.5% down for a 1-4 unit property for example while with an investment property you usually need 20% down for a bank loan .

Sometimes a pro-forma is just a sellers hopes and dreams, proof the projections against reality. land sales usually don't spin off these types of returns unless they are in or around resort areas or major metropolitan cities where new construction is coming, not sure how a mountain would play into that scenario unless it's mountain cabins.    

Also, in subsequent mortgages, it looks better, if you have lower payments, because a bank will only count 75% of your incoming rent, so it it looks as if you have negative cashflow, you might not get a loan. 

(But the payment would go up pushing cash flow more negative, right?)

They manage my former primary residence for me and usually are very responsive, I can talk to the owner any time, and they have good control of the statements, payments, insurance, etc.http://www.hrgaustin.com/property-management/Hope this helps!

And I'm noticing even in the St Louis area, multi-unit apartments usually price at million on up.SO -- am I looking at a misprint?