I would certainly be more cautious doing something like this with working capital, but since this is a 'longer' term investment via a SDIRA that eases some of my concerns.

Just be very cautious of trying to invest out of town.  

I'm trying to be cautious, but not stereotypically caucasian-ignorant.

But I am cautious to have a couple of prospective tenants seemingly use a friend or relative as a qualifier when I wouldn't consider renting to them otherwise.

My homeowners policy would not extend over because of this..It's very possible I'm being overly cautious and creating a problem for myself, @Mike Hanneman.

Just be cautious and strategic in order to maximize returns.Let me know if you have any other questions!

In fact you may want to be cautious of the inquiry since many states have discrimination laws.

Higher cash flow was one of my primary objectives, but in today's turbulent economy, you also want to be a little cautious about focusing solely on one thing when you're narrowing down your property search.  

Economists note that job growth in typically underreported industries fell by 42,000 compared to the 6-month average, suggesting August’s numbers may understate actual gains.Key Employment GainsConstruction: +34,000 jobs, driven by heavy civil engineering and nonresidential trade contractors.Healthcare: +31,000 jobs, though slower than the past year's monthly average of 60,000.Social Assistance: +13,000 jobs, with more modest growth compared to previous months.Other growing sectors include financial activities, wholesale trade, and government (+24,000 jobs).Job Losses and Sector StrugglesManufacturing: -24,000 jobs.Retail: -11,100 jobs.Temporary help employment continues to shrink, reflecting business uncertainty.Wage and Fed Policy ImplicationsWages rose by 0.4% in August, up 3.8% year-over-year, supporting a cautious approach by the Federal Reserve on deeper rate cuts.

But just like any other market, need to be very cautious of what areas you are buying in and be prepared to manage the property.