@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

The state laws (do not quote me) appear to not let these companies increase rates (or its not easy) to pick up the losses.

Hopefully we can pick each others brain and I know we will crush it in the Real Estate industry!

Further, running a very quick and simple valuation based on $900 rents, 8% vacancy, 25% op exp margin, and a 9% cap rate, I'm coming up with an ARV of around $83k, so I'd pass if I were you unless you can get a much lower purchase price.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?

I picked up my first syndication using their methodology.

Pick 2-4 locations, get no more than about 6 deep in any but no less than 2 deep.

I picked up the same things too.

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?