How to get started flipping as a OOS Investor?

[Eric DeVito]

Hello all, I currently reside in Northern Virginia, recently relocated from NYC. Just finished selling my primary home in NYC which I had for 5 years and appreciated nicely. Made about $150,000 in profits. I now will have around $200,000 in savings. I’m looking to flip and fix out of state in areas such as Cincinnati/Dayton, OH. I am interested in buy&hold as well but want to give flips a shot. My main concerns/questions are:

1) What are the steps I need to take and also how do I even go about finding homes that can be flipped for profit in a market I have no idea about.

2) How to determine ARV in a market I know nothing about? (This questions probably ties into question 1)

2) How to estimate rehab cost when I don’t know anything about construction.

3) How to make sure all this goes smoothly as an out of state investor.