They also tend to rent really well meaning they don't sit empty very long but the turnover cost can add up as people in that price range don't typically care about the property.

The goal is actually to keep them in the house as I live overseas and I know they are good tenants and will take care of the house for a couple years until I return home.   

It may slow demand a little in high cost areas for a minute, but when people are already buying in cashflow negative area, you really think they care that much about the cashflow or cost?

Tenants aren't going to care about your owens corning insulation, instead say that the unit has been renovated with an attention to details, including added insulation and sound insulation.. etc.6.

You can make good money in tips

Meaning, the competition is fierce and unless you are proven with cash ready.....get in line.  4) Renting $500 to $800 units in MF apartments attracts the highest quality tenants out there who will take care of your unit without fail. 

You'll find some helpful tips at https://www.biggerpockets.com/starthere.

@Tim SwierczekThank you for the many tips and advice in your post.

Who cares about interest with rates this low and now 2 things will happen.

I had someone say to me today "I don't care if you charge me more because it's a low loan amount..."