Investing in area you're less familiar with combined with multiday travel can be more costly than spending more in your own market.

Sounds like you are happy with the answers but here is something else to consider: NJ is a judicial foreclosure state so timeline to foreclose is multiple months at a minimum and could even be over a year depending on the tools you have.Is your lender a big institution or a smaller private lender?

Second, I expressed concern over the appraisal rental analysis not being high enough and was told, "We are at a 1.22% DSCR ratio so we are good.”That was on Dec. 5.

Their might be some wiggle room if what is being collected comes in over the market rent however for the most part the market rent would be the preferred guideline and any deviation from that would be up to the lender that you are working with.

I've been learning real-estate for over a year.

Hi Ken,After managing hundreds of properties and working with investors (many from out of state) for over 20 years, I’ve seen Tampa, Orlando, Lakeland, and Miami all work—but each has its own flavor.

There are about 20 companies that do this and more or less take over as the primary lien holder in place of the taxing authority. 

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

In cities like Cleveland, Columbus, and Cincinnati, you could buy multiple properties for the same $200K-$250K you’d spend on one in a pricier market.

I would be happy to send it over to you.