Financing seems to be tricky with IRA hence feel that its best to buy with self funding fully.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Clinton.

If it's posted in Florida MLS, it's available in all online sites and people who are looking to buy property in your area can find your listings. 

Once you can define what you are looking for then you can create your "Buy Box". 

@Dennis Bragg, how did you factor improvements and market appreciation into the buy-back price?

Investment Info:Single-family residence buy & hold investment.

There will be multiple markets you can achieve a 7.5% cap rate especially if you're buying with cash.

@Makani Donaldson it all depends on your investment goals.If you buy a Class A rental, it'll usually have negative cashflow, which will be hopefully offset with appreciation and better tenants.If you buy a CLass C or D rental, it should have pretty good cashflow because you may not realize much in appreciation and you'll have a lot more problems finding good tenants.