Sorry, I'm not buying this story.From make-ready's.

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Once you can define what you are looking for then you can create your "Buy Box". 

But not just any rough area, find the areas that you think will gentrify in a few years (less than 5), buy a rough house, fix it up and wait.

I'm from Tampa Florida and I have a few clients that leveraged their portfolio to buy new properties.  

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Whether you’re buying, selling, or just curious about what’s next, there’s never been a better time to keep an eye on real estate.

You typically offer it to your partner first to see if they will buy you out.

Investment Info:Large multi-family (5+ units) buy & hold investment in Bryan.