Investing in out-of-state properties can be a great strategy if approached thoughtfully.

ONE OF THE REASONS WHY I WAS INTERESTED IN THIS PROPERTY WAS I LITERALLY GREW UP AROUND THIS PARTICULAR NEIGHBORHOOD SO IT WAS A FULL CIRCLE MOMENT FOR ME BESIDE IT BEING A GREAT DEAL I WAS VERY FAMILIAR AND COMFORTABLE WITH THE AREA !.

Look for properties where you can add value with smart, targeted renovations rather than going overboard.Financing Strategy: Since you're aware of the leverage risks, keep your financing options flexible and conservative.

It's not a bad strategy, especially if you live in a lower-priced area with a good rent-to-purchase price ratio.

With that strategy, I'm not a real estate agent BUT I am also reading a book called "BUY, REHAB,RENT, REFINANCE, REPEAT.

Being a subject matter expert and having a clear strategy is far more important than picking a market.

Sounds like you need an agent and/or contractor based on your strategy. 

Or is it better to utilize different strategies?

I love this strategy! 

Sounds like you’re in a strong financial position, and it’s clear you’ve put a lot of thought into your strategy.