I do have vacancy, maintenance, and capital expenditures accounted for in my model, and I'm running in the green by about 7600 a year- still, I thought the margins may be a bit thin.  

Great equity margins (21%) and needs no work to rent but for 10k more the market would support another 20k in equity and 200/mth more rent. 

For example i have general plans but have ran numbers on a few prospective properties I did know if you  had a helpful resource for more specific ways to plan on either end

I'll accept getting a pretty measly profit margin since its my "throw away" first flip.

There are advantages to both strategies, mostly depends on the specific market/neighborhood and how the demographics are trending and what the comps are like.You're already at $9,375/unit, a $100/m increase will give you an ROI of 12.8% off of that $150k, which isn't bad, but not incredible.

It’s goal is to have one place that’s specific to our location.

Specifically where the property is blocks from the ocean?

Yes, there are podcasts that mention avoiding high crime areas, but there are also podcasts where people specifically work in areas that most people avoid... primarily for the reason that most people avoid it, and they have no issue with it.If you are planning on managing the property yourself, then you need to know the kind of tenants you want to have, and that will help you narrow down which kind of neighborhoods you want to concentrate on.

Hi @Dee Bullock, I would suggest picking on specific area to focus on learning that area first.

I've purchased from foreclosure auctions in Queens before, and the margins arent that wide.