Sub2 and out-of-state, am I just dreaming?

[Richard Low]

I'm a second year dental student in Phoenix Arizona and I'm wondering if it's reasonable to pick up a few properties while I'm here (2 more years). Being a student I don't have a lot of capital, so I'd be looking for properties that I can do with 100% financing, potentially sub2 by marketing.

I just need to know if we'd be wasting my time picking up properties in Phoenix if I'm going to move out of state after my schooling. My wife and I were property managers for a 4-plex with out-of-state owners. They bought their property while in school and then left the property to one of their tenants. When those tenants moved out we moved in and became the property managers. We were undertrained and underpaid, but since we were both in undergrad we were just grateful to get cheaper rent. I learned from the owner's mistakes and I plan to create a system/business that I can teach to one of our tenants before we leave, based on the knowledge I've gained here in BP and elsewhere.

Is it reasonable to think I can find 100% financing, whether through sub2 or some other means?

Is it reasonable to think I can manage our properties personally and then train someone locally to take over when we leave? Or should I just plan on finding a good property management company?

I'm looking forward to everyone's thoughts, esp. Ben Leybovich, since he's done many of his investments with 100% financing.