Buying out of state

[Eboni Allen]

I am looking to get the attention of anyone who has purchased out of state. Since I am just starting out with little money - I want to be able to accomplish something quickly within the scope of all cash payment. A Google search of cities with most affordable homes lists Cleveland as one of many. It's a big, I figured, so I started looking on Zillow. A cute 1950s home of 1000-1200 sf sells for $30-$60k! And rents for $900+ per month. Sounds like great cash flow. Buying out of state seems so poorly talked about on the podcasts. Does anyone have several good experiences of buying out of state? Let me know if that is your sole strategy. I googled the addresses of some cheap properties in Cleveland and it doesn't appear to be the "hood" on these homes. With a decent property manager, seems like anyone could bolster their buy and hold portfolio quite easily and nicely with cheap homes from other states. Am I wrong? Do I sound like an overly hopeful newbie? Sharad Mehta's podcast got me thinking. He has a huge portfolio in NW Indiana of all homes that sounds like he purchased in the $20k range. Granted he and his wife make good money - but my curiosity in this arena has less to do with the paycheck to back the purchase and more to do with how plausible/wise this strategy is for a newbie. Thanks Team!