However, many more certainly get burned by OOS investing but it is not sexy to talk about on here as much.Those in high cost of living areas generally feel that it is less risky to start investing out of state and believe that the total returns are better when you are cash flowing OOS. 

What I'm looking for doesn't need to be near as sexy/charty/colorful, even a well designed spreadsheet would probably suffice. 

No, because it's not sexy.

Most hard money lenders are going to expect around 20% down and charge 2-4 points, with interest rates in the low teens.  

All that being said, I see this as a very stable market rather than a sexy one offering dramatic appreciation to investors outside of the artificial bubble building building. 

Flipping sounds pretty sexy and easy but it need lot of leg works. 

Last week I skipped my weekly email, because my wife and I (along with other youth leaders) took 21 teens to an overnight camp for five days.

Police out nightly with teen rave parties.

Are you looking at the sexy nightly rates? 

The housing stock here is old, as in built in the 19-teens, 20s, 50s.