However, I am definitely open to out of state investing later down the road when I have more experience.

But what happens next is more interesting.A few minutes later they come back into the office sobbing. 

He's doing a 1 bed, 1bath 1,000 sq ft cabin that appraises out for 525k and that we agreed to build for 400k all in (including lot, utilities, appliances) provided they get the construction loan or pay cash (they can refi out later) so we don't have any interest expense either. 

Years later I had 50 mortgages at one time, and it seemed like all I was doing was writing check to mortgage banks and lenders. 

Later, I received an email from VRBO stating that they could not lift the restrictions if we could not prove a disaster and that the cabins had actually flooded.These folks are out of control.

It might be tempting to save some bucks on the premium, but you could find out later you've been paying for nothing if they refuse a claim.

You have limited appreciation and often the taxes go up later and shortfall the cash flow expectation.Rent-ready for you would also mean live-ready, but by having two residences and two short-term options when you are not there, you are creating a lot of upkeep and maintenance on both that will be very hard to manage.

We sold the house 9 months later.

Expanding into Indiana later can diversify your portfolio and offer additional opportunities.

Couple months later I get a letter from an attorney saying he is suing me due to my negligence.