The high season highs aren't nearly as high, but the income is steady and reliable, and you also have more exit/pivot options. 

The only rule that has changed in the last 18 months is the seasoning requirement, which is a lending name for waiting period, to be able to use an improved value to pull cash out has gone from 6 to 12 months.

About meI am a seasoned acquisitions manager for a wholesale/rehab company in Virginia with over 60 successful contracts just this year with an average profit of over $44k.

No seasoning.

Or for the more seasoned investors, how do you go about evaluating neighborhoods while out of state?

Michael, I've been reading about hot tubs and "hot" is in the name, but they can be cold water tubs too, so the temperature can be set as the season varies.  

Rental income also sometimes has seasoning requirements before a lender wants to count it towards covering the debt you incurred.You don't mention how much income you will need to be financially independent.  

I'm super excited to step into this season of life and look forward to learning a lot and growing. 

@Ryan Dickerson There really is no silver bullet, this gets asked a LOT.

I'd personally talk to some contractors, and local real estate agents, and do some more connecting on here to get some more opinions from more seasoned veterans.