Charlotte > Houston and PhiladelphiaA lot of fortune 500 companies are building new offices in Charlotte.Weather is greatThe state tax rate is decreasing(and overall considered low)The city has a high end airportCharlotte, in my opinion, has the opportunity to be a large city(maybe not on the level of NYC, LA, San Francisco) but just a level below.

Assuming cash flow is sufficient for your goals, you have high confidence in your income and vacancy projections, and a high confidence in the HOA not changing the existing restrictions, I don't see anything else that should give you second thought, based on what you've shared here. 

If you are prepared to be a resident in one of the units and rent the others out FHA will allow you to Borrow from them providing you meet credit requirements, income requirements, and length of term working.

Get your cousin who does sheetrock work, your wife's cousin who works for a foundation company, your other cousin who paints for a contractor and you have a team.If low income housing is all you know, it might be the thing that is the biggest thing in your life.

Market shifts have made strategy even more important lately.DSCR loans are based on the property’s own income rather than the borrower’s personal DTI, which makes them ideal for investors scaling portfolios or holding properties under LLCs.

Hey @Scott Green,From a tax perspective, keeping your mortgage might still work in your favor since the interest is deductible against your rental income, lowering your taxable income.

Is this return too low??? 

   $100k in New Jersey is all I had to my name when I first started,  I  used a low money down loan purchases $500k property and turned it into an $800k property, today it is valued over $1.1m. 

This involves purchasing land at a low cost and selling on terms to generate $100-$250 in monthly profit.

I have found a property that has good COC and a potential of 10% cap rate but is in a low income and higher crime area of the city.