You're right about needing more land to cash out though, the piece I was talking about was 135 acres and at today's timber prices you would not be able to sell the timber for as much as you are talking for 10 acres unless you hired a cutter, bought a truck and skidder, and did it yourself.

I'm looking for what I'm missing beyond the cookie cutter scenario I put below.Scenario: Say I find a house listed at $200,000.

As far as out of state multi-family investing in general, if you concentrate on developing your skills for out of town needs, like contracting & property management you can "Cookie-cutter" that for the future.

They were quite "shocked " at how it melted the cutters . 

So I feel I'm learning the RIGHT way to DIY, not jimmy-rigged fixes. 

Our house was built in 2011, in a cookie cutter neighborhood and there is an exact replica of our house under contract after 6 days on the market for $182,500. 

Short-term rentals are slowly becoming a commodity in many places and, in a commodity market, you have to compete on price.The ways to avoid that competition is to avoid cookie-cutter properties, provide a superior service and invest in a niche like the luxury segment.

Rig the fan so it goes on with the light.

I was a meat cutter for thirty years.

For me if the project was close to me, straight forward and a cookie cutter deal I'd say quicker time.