I knew it was a great rental market (60% rental in the city as opposed to 40% owner occupied) and despite the population trends and Kodak I knew from living there that there was still economic development and growth.

I am now contemplating whether it would make economical sense to pay off the first multi-family unit before purchasing a second one.

Understand, I have a degree in Int'l Marketing, taught it at one if the largest biz schools in the country, but was, in fact, clueless in how to make it work for me.Again, when I was sufficiently open-minded and desperate enough, I discovered how real direct response marketers work.

Mike, if you start applying economics to 2 or 3 rentals, you'll experience the law of deminishing returns very quickly.

I am an agent with two of the largest in the country - Old Republic and Fidelity National.

MHS is the largest closing attorney firm in the nation -- I've worked with them many times and they are knowledgeable and honest in my opinion.

If the note is exchanged to facilitate the purchase and sale of a minor asset or consumer good, to correct for the seller’s cash-flow difficulties, or to advance some other commercial or consumer purpose, on the other hand, the note is less sensibly described as a “security.” .Second, we examine the “plan of distribution” of the instrument, to determine whether it is an instrument in which there is “common trading for speculation or investment”.Third, we examine the reasonable expectations of the investing public: The Court will consider instruments to be “securities” on the basis of such public expectations, even where an economic analysis of the circumstances of the particular transaction might suggest that the instruments are not “securities” as used in that transaction. […]Finally, we examine whether some factor such as the existence of another regulatory scheme significantly reduces the risk of the instrument, thereby rendering application of the Securities Acts unnecessary.

This guy doesn't seem to think so much about extra bedrooms;http://www.kmov.com/news/local/One-of-the-largest-homes-in-US-being-built-in-SW-MO-125730363.htmlSo, ther is a big concer about wear and tear, parents, one 17 year old girl, one 16 year old boy and a 9 year old girl, there are lots of 3 kid families.

As far as I know Seattle is not having the same economic difficulties as Detroit.So what bits of information should I be looking for when analyzing a market?

So, that's another "beware" sign.I've been to Jonesboro and examined banks there, met lots of different people with varing levels of socio-economic savy about them, but never met anyone willing to give 30 thousand buck away.