Make sure you take advantage of the various tools & calculators that BP offers.

There are some real advantages to investing close to home, especially for your first property:- You know the area better- It's easier to manage and check on the property yourself- You can respond quickly to issues- You'll have a better network of local contractors, realtors, etc.That said, if the numbers really make sense in Conway or Titusville/Melbourne, it's not impossible to invest out-of-state.

Advantages: For the lender, it’s predictable cash flow.

Is there a more advantageous way than others?

I do this because I know all the varies things that can go wrong in my market, all the little laws and nuances that can make big dollar differences that Im aware of and take advantage of daily.....things like those exist in those other markets where I have limited real estate and legal knowledge.I'll use this as an easy example, as it is a mistake I see lay people and poorly trained agents in my market make all the time.

Quote from @Tim Delaney: @Marty Boardman thanks for sharing - just to be clear you put all your expenses related to the house under one capital improvement account t (Wip) and do not bother breaking them down into categories like kitchen and flooring and paint, etc?

I think the customer service, amenities, and ability to make the stay stress-free for the guest are the biggest advantages once you are booked.

Richard's teachings on market analysis, property evaluation, and risk assessment have given me a competitive advantage in the real estate market and I am very grateful for that.

If not, how is it an advantage to buy with low rents if the property is being valued based on comps? 

Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.