The best route is low coverage industrial, industrial outdoor storage.

Low crime, steady employment opportunities in the surrounding areas as well as Appleton. 

Some will go down as low as $100,000.  

I would look for a bunch of Sub To Deals with 2-3% interest rates ...... then rent out for cash flow and huge equity build up when rates are really low (check out amortization schedules and compare 2-3% vs 6-7% with the same balance and length of time - check out the principal portion each month - the lower the rate the higher amount goes to principal PLUS better cash flow).

Judging from your profile photo, you have at least 1 good reason to take the entrepreneurial leap.Wishing you the best as you go from corporate office to REI.

It could be unbuildable.did you go look at the property at all, or did you bid blindly based on the assessed value and threw a low bid at it.

In no particular order I have listed some of the most popular markets for out of state investorsCincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

You can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional or 3.5% FHA with a few exceptions.

I fear i may be a bit aggressive on my allocation (i fear i am more likely low than high, i like my underwriting to be conservative).  

I do think i'm going to just have to bite the bullet and offer it for pretty low.