The other bit of advise I'd offer, is not ruling out using a trustworthy, recommended property manager to place a qualified tenant for you.

The rehab is the risky part and it is even more risky if you are new and don't have trustworthy inexpensive contractors lined up. 

Chicago has a strong market and because it's a staple as one of the most important and populated cities in the country it's pretty trustworthy. 

@Justin Gomberg Hi Justin,If you are planning to invest out of state, I highly recommend reading the book “Long distance Real Estate Investing” by David Greene. it will answer 99% of your questions on the subject.As far as buying non-BRRRR properties, I would stick with a trustworthy turnkey company versus buying off MLS at top of market and then still having to put money to rehab.

Is that because they lose their trustworthy and keep changing names or is it a marketing strategy to acquire more buyers?

I live in New Zealand and own a small portfolio of residentialand commercial properties in Australasia and South America.Goal:I have USD$150K cash (I am not interested in pursuing bank finance/leverage).I would like to cash purchase a $130K residential property in USA.Find a trustworthy property manager for < 10%Refurbish the property for < $20K.Rent the property for an approximate 20 year period.Question:Which three counties in USA should I consider/compare/investigate ?

I am asking if anyone has ever asked an intelligent, trustworthy friend to act as qualified intermediary in a 1031 exchange.  

As many have said before, having a good/trustworthy team in place is critical, whether you are in or out of state!

My best advice to someone new is to get a good team of people you can trust, especially a trustworthy, reliable handyman.

I wish I knew someone there Amie, but Im a bit to far away.I agree with you, this company does not sound trustworthy at all.