Out of State Flips

[Billy V.]

Hi,

I have connected with a company that has a network of banks that are willing to sell me there REO's for 25 to 35% below what they have them currently listed for on the MLS. I live in northern California but they have not had anything in my area. We have lost out on a few of these deals in Southern California to buyer who were buying 5+ groups of properties at a time. Right now I am only purchasing 1 property at a time. My desire is to purchase these homes and flip them on the MLS.
When I ask my contact person if she had any other properties she sent me a big list of available properties in Texas and said they were all available at the 30% discount. After doing a quick online check of comps a few of them look to be good deals.
My question is has anyone done and or can give advise on out of state flips?
Texas is a big state and these properties were all over the place.
It is going to be difficult for me to fly back and forth to check out each house. I plan on finding a few realtors in any given area. Getting there pricing for a quick sale. Doing appraisals and inspections. This still seems like there is a fair amount of risk. Financing is not an issue and I plan on starting on the small side with the amount of cash we put in as a test run.
Any thoughts or comments would be appreciated.

Thanks.