If you haven't already, read "Long-Distance Real Estate Investing" by David Greene before taking any action investing out of state. 

Escrow will do what they are told, so long as the buyer and seller agree.Even for a “standard” sale, virtually every rehabber we know will make a cash offer with a quick, five or ten-day close. 

What are the comparisons for cost and how long will each last?

Of course, as long as the property is rehabbed well and the refinance LTV covers the hard money balance owed.

Do you solely want a cash flowing rental, or are you looking for long-term appreciation? 

After searching the Coachella Valley area for long-term investment property, I narrowed it down to 2 properties: 1) Cathedral City, 1550 sq.ft, $276/sq ft, 4 bd, 2 bath, No HOA - $410K.

Once you and the seller sign a contract, now you have the options to either keep the property yourself, do flip or long term hold, or assign it to someone else if you don't have the capital to flip the property.

Goal is to have mid term rentals but I’m also open to long term! 

Innovations in construction technologies are also enabling faster, more cost-effective building processes, opening up new investment avenues in developing areas.The Enduring Value of Real Estate InvestmentReal estate remains a preferred choice for investors seeking long-term value.

Hi Pete,I suggest you look at places that have growing long term economic activity.