This increases the perceived risk and perhaps the legal fees to put in place and then defend if necessary. 

In a seller's market, home prices typically increase due to limited inventory, while in a buyer’s market, prices tend to be more negotiable.

I want to build a home on the property to increase value at some point.

The increased depreciation deductions can offset your taxable income, including gains from the sale of the previous property.

Purchase price: $430,000 Cash invested: $85,000I bought the property partially renovated on the interior, then proceeded to do updates to increase value.

The best way to get started or increase that flow is to go to real estate investor meetups (@Leka Devatha has an amazing one in Seattle) and also answer questions in the local forums without ever asking or offering help in terms of your business.

Unlike San Diego, the laws about rent increases and evictions and things like that are more reasonable for landlords, making those nightmare evictions stories and squatting stories less likely (hoping I never have to take advantage of that but still good to know)So i'd look for things like that if you can, good luck and do let me know when you end up closing an out of state flip!

Quote from @Jonathan Greene: This trend has been growing increasingly, but it's actually hurting most new investors.

In current market conditions, rents have generally increased, making house hacking a viable entry strategy.

Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce.