It's not really appealing to sit in an empty house/room at night without being able to have some entertainment. 

Most lenders won'r take a 2nd position lien with a HELOC, so you may want to entertain a traditional non-cash out refi with a new lender AND get a HELOC as well.

It was close to an entertainment district and within a short commute radius of two major universities.

It's a great city, lots of growth, young professionals and plenty to keep you entertained!

I'd lived there before and loved it, but one of the things that made me choose Nashville was that it has so many of the good things Los Angeles has to offer in terms of entertainment and good food, etc. but on a much smaller scale!  

It's a remodeled small 2 bed, 2 bath unit next to a fairly busy entertainment district.

However, I have also been entertaining the idea of possibly investing into out of state properties, such as a multi-family or even a small apartment complex.My question is, what has been your experience with either investing into foreclosures and/or out of state investing?

How did "FunkyRabbit LLC" know you would entertain an offer? 

The Metro Atlanta Chamber identified fintech (financial technology), mobility and IoT (Internet of Things), health information technology, cybersecurity, B2B software, smart grid technology and film/digital media/entertainment tech as key growth segments. 

BiggerPockets podcasts are always very informative and entertaining to listen to.