Is it all about the money?

[Lucas Moncada]

I have been searching for my first investment property and am now considering buying/holding and renting out. I live in Southern CA where cost of living is high as is real estate. So, I am considering buying out of state. 

Given that I have cash for a down payment and could get a loan for a "cheaper" house is it really the ability to come up with the money that holds people back?

For example, and this is picked at random, this house is $130,000 Kansas City.

- I could easily put down a cash down payment and given my wages in Los Angeles, if need be, pay the mortgage when it is not being rented.

- What are the potential problems other than not being there in person 24/7?

- Am I oversimplifying it? 

Thank you.