There are a number of good QIs right here on Bigger Pockets.

I had invested in out of state RE in the Midwest before. buy & holds in OH that we ran into several issues with, incompetent PMs and lot of repairs required leading to losses and instability.2.

Min is 3200, but the bigger the better.

So for him, paper losses are good.

You can see it on Bigger Pockets here:https://www.biggerpockets.com/forums/521/topics/1217146-2024...I post all my events on Bigger Pockets.

I think Reno would have higher appreciation but bigger swings both up and down.

Hello Bigger Pockets, I am hoping someone can help me figure out what I am doing wrong using the BRRR Calculator. 

Otherwise, weigh your options with estimated vacancy and remodeling time, but how you may be able to mitigate losses longer-term with the higher rents you'll presumably be able to collect with new tenants. 

Check out this youtuber video about owner-occupants in areas of Florida having to sell at a loss. https://youtu.be/wpKpwUhPRrA?

Stop when you reach your goal or you want to go in bigger asset classes.