Is it a bad idea to MLO an out of state property?

[Julian Hicks]

I've recently been looking into purchasing property using the Master Lease Option method. I currently reside in Southern California where, as you probably know, Real Estate prices are sky high. I do plan on exercising the option to buy when the lease term is up, but I don't want to buy in SoCal. Neighboring states such as Arizona and Nevada offer much better investment opportunities for me. What are the dangers of leasing an out of state property? Is it just too risky?