Greetings from N CA.Hope everyone is making deals left and right, collecting lots of money, and spend some to boost the economy

I don't know about other locations.In my opinion, our economy is just gaining a foothold. 

Every bath should really have an exhaust fan vented to the outside.  

@Colin Murphy Yeah, after doing some reading on Real Estate in Spain (and some horror stories) and given Spain's current Economy issues, I do feel more comfortable leaving my money in Canada so far.Thanks for the advice, and if you're in Madrid (not Florida?)

Are there examples in the rust belt or anywhere else where city-wide gentrification has happened and shown significant appreciation since the rise of the service economy?

Also, we have a very strong, broad based economy, whereas most areas across the country are dependent upon one or two industries, and have higher unemployment, meaning fewer qualified tenants and buyers.The number one rule of real estate has always been LOCATION, LOCATION, LOCATION, very few places in the country can compete with Orange County.

There's a lot of factors that need to be considered, Your financial situation,Age, where you're at in life, etc.What is your long term goal, What's the market like where you are atWhat is the economy like in your areaIs there a strong demand for rental propertiesHow do your properties stack up against what is availableI'd suggest you check out some of the PODCASTS and read some of the BLOGS both are a wealth of information on all the things you are asking about.

Market - Know the neighborhood, local economy, bus routes, who lives in this neighborhood and why and where do they work?

Wondering if I am doing the right thing in purchasing this.The economy has several anchor points, the military, a naval hospital within walking distance, ship yards, ports, tourism "Virginia beach".These are the financials. $74,100 current rental income.$1,800 Laundry (old top load COIN (0.75c) washer/dryer, I believe this can be improved, with new card machines)ExpensesBldg Insurance        2976Flood Insurance      2690 (hoping this doesn't increase...)RE Tax                    6297Electricity                720 (decrease through more efficient lights/washer/dryer)Natural Gas            1200 (2 tankless water heaters, decrease through showerhead)Water/Sewage/Trash  4380 (don't know exactly how much for water, though trash is $33/unit, hoping to add water saving aerotors/showerhead/toilet to all units, maybe submetering)Lawn Care               540   (Will eliminate this due to me living on site) 7% - Vacancy               5187 (little turn over)7% - Management        48246% - Maintenance        4446Actual Income $75,900Expenses        $33,260Net Income      $42,640P&I                   $29,568P&I 2nd              $9,278End Cash Flow $3,79475% loan 5.25% fixed/amortized 5/25Seller financing 40k 6% over 5years So my question is, will this deal work?

Economy of scale wins in my book.