Long distance cash flow investing from Las Vegas

[Harry Means]

Hey everyone.  My name is Harry, I live in Las Vegas, and I am looking to invest in rentals in the midwest or south for cash flow.  I currently own my primary residence and also a 3/2 sfr rental an hour outside of Las Vegas that is free and clear, that I have owned/self managed for 8 years.  I am in the planning stage of the process and trying to figure out the details so I have a viable plan.  Here is where I am at so far, please chime in with obvious issues that I am not seeing, opinions, tips, etc.    

Type:

Preferably multifamily 

Price Point/Financing:

I would like to be under $40k, I have the cash to close on deals of this size.  I wanted to do the Fannie Mae delayed financing, but with it being under $50k, that may be more difficult.  If I go $50k+, I would need to tap the equity in my rental.  Either way I want to be at 1% for net cash flow and use the brrrr method to expand.  I would like to find a local bank who works with investors in whatever location I decide on.  

Condition:

Due to the distance, cosmetic to light rehabs.  I would like to get the systems and contacts in place to take on larger projects, but initially I need to stick to light rehabs.  

Location: (Needs to be somewhat close to airport if outside of major metro area)

Cleveland, OH

Kansas City, MO

Indianapolis, IN

Milwaukee, WI 

Memphis, TN

Atlanta, GA  

So that is where I am at as of now, any tips or suggestions are appreciated.  Thanks