We invested into the property and came well ahead of the local market.

I work for a local house flipper in the Greensboro area (Winston Salem).

It still had poor locale support and was not much more International than the U.S.A. version.

Unless you're locking up 10 acres in a large metro where a DR Horton or KB homes might come in, thats a little less localized.

That said, be sure to check your local jurisdiction for other regulations.

@Hiren Patani Ask a local eviction attorney in your area for a referral!

I've done it multiple times on primary residence and was just able to do it on an investment with a local CT bank. 

@Joshua Piche with little experience, it's better that you invest locally vs OOS - unless you want to invest a LOT of time learning another market and networking with th right people.Locally, look for a 2-4 unit property that will qualify for FHA 203(k) financing. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

You'll learn what contractors are good at such repairs, and eventually people will start bringing you "problem properties" with that issue.Another related idea: contact a good local realtor and ask them if they know of any on or off market properties that would be a hard sell for most buyers. 

You must hire locals who are familiar and acclimated to the culture of the city you plan to create rentals in.