I have a client in Kansas City that looks for very similar deals in his market.

First off, if you can find a property that cashflows, you're going to have a real difficult time getting the property financed.

I will post the outcome, this one has been the most difficult for me so far.

Pot smell is notoriously difficult to get rid of. 

on the chance that something comes to you somehow - you'd have to snap it up / put it under contract immediately, and again, that's very difficult to do remotely. 

Financing can be expensive and difficult to find.  

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

I have clients doing 1 a quarter thats about the slowest to others that will go on a mini tear and I will help them buy 5 or 6 over a 45 day period then they go to work.But generally my busy folks will do 15 to 30 plus a year..

For rentals, consider holding properties in an LLC for liability protection.This post does not create a CPA-Client relationship.

You want your clients to keep coming back to you.