But for the first few months it seems like it will be easier to manage from our side.

For the first part of your question even if you were working with a realtor, I don't personally know many that have a true pulse on rehab costs and I wouldn't make any investment decisions based on their rehab cost projections.My suggestion would be to study how to evaluate the Big 6 rehab costs: roof, siding, windows, HVAC, electrical, and plumbing. 

A lot of Cali folks focus on the Midwest but don't know the states, towns, or cities, and also don't know anyone so they are flying blind there.

Side note I have one landlord friend who actually has his renew in the middle of winter so they can't find another place.

We are already surrounded on three sides by urban zoned homes.My neighbors and I have been approached by two individuals, one is a neighbor who is a real estate agent, and the other one a friend of a neighbor, who works with a real estate attorney; both individuals asked us to join them in working with the 5-6 developers they have approached.

Things have tightened up everywhere so it's not as it was in the day, but without question, many people became wealthy on both sides with an off-market approach.

Sometimes if that is an approval verse a bank account showing $500K for example, the agent on the list side may need a little education on what you are looking to do, I always have the lender call the agent in this situation to get them on board to get the listing agent more on board. 

Horrible.The REIT is essentially a "blind pool" investment.

If I were you I'd be very specific on which town you buy in the suburbs or if not potentially consider the northwest side of the city.

Hey Julie, in Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue.