longer term flip?

[Mark Cohen]

I am going to be meeting with a potential investor next week who is interested in being the capital partner in a "flip".  From my research, in my current area there is a strong demand from buyers and the margins on a flip are thinner and riskier, at least from properties on the mls (I am an agent)  Now if one goes a little further out there are still deals which wouldn't require so much rehabbing but it's a matter of waiting 3-4 years till the demand catches up to those areas.  Personally I am less risky and would go that route rather than trying to squeeze out money from a quick flip, but I imagine most investors want their money back sooner.

Does anyone else see other pros and cons to buying further out as opposed to in the current high demand area?