I think that I have a good basic understanding, but I'd like to learn more about my specific ares: Springfield, Nixa, Ozark, BransonI plan to go to local REI groups.

I’m interested in multifamilies to smaller apartment complexes here in Springfield MO.

I am in Springfield, which is about 65 minutes east of you.

I'm near Springfield, Illinois.

On the other hand, if you can avoid these potential pitfalls, there are opportunities out there.I recently purchased an intended buy and hold (90% of what we do) and ended up flipping it (this particular house was about an hour north of Concord in the Claremont / Springfield VT area):Purchased for $55K needing a good amount of capital injection:We did new windows, roof, deck and vinyl rails, cedar clapboard repair and paint, some sill repair, entire new propane-fired forced hot water heating and domestic hot water system (it had electric heat and an old electric water heater), plumbing repairs, full bathroom redo (new tub/shower with custom tile enclosure, new vanity, new toilet), half bath redo (vanity and toilet), new floors throughout (tile and laminate and refinishing of hardwood in living room), all new interior doors and finish carpentry, complete interior paint job, new sinks/faucets/finish plumbing, new appliances, a good amount of electrical upgrades, all new interior and exterior lighting fixtures, driveway redo with blue stone, a drainage-related landscaping improvement, filling in of a swimming pool, and other miscellaneous odds and ends.I estimated to be all-in (purchase, reno, and carrying costs) just under $100K.

There is a fair amount of stuff in places like Greenfield and lots of options if you are willing to go out to Orange.Of course for the semi long distance type things get cheaper in that area as you go South so even more lesser priced places in Hampshire and if you go down to Hampden, especially if you will brave places like Springfield and Holyoke you can buy places for under $50K all day, that need work.  

Union county (springfield, union, elizabeth) has pretty good numbers (good cap rates, lower prop taxes).

Anecdotally, I don't see much absorption of those large vacant buildings in Northern Virginia near Dulles Airport, Crystal City, Alexandria, and Springfield, VA.

I am an agent in Springfield, IL if you need any help feel free to contact me!

(Springfield MA, Hartford CT area).