Idea 6: Wait until your market is so insanely hot and has low inventory like San Francisco, oh and a "Not In My Backyard" mentality...

Other states like FL, TN, IN, OH, LA can all offer a great price point even on 2-4 unit MF rentals.I would spread that $290K out over several properties and use some for renovations and repairs.

I'd suggest investing in a market with strong job growth and expanding economic base, like Columbus, Ohio.

Oh well. .

The majority of local banks we talk to for Columbus OH wouldn't even fund a deal for an out of state investor (credit unions, etc).

I am stuck between Alabama and Ohio as a place to invest, but it seems that this limit constricts me more than I imagined.

I know the rates right now are making this harder, but I have heard some success stories in Ohio and even Indiana. 

This is why I do all my business in OH

wherever you are looking for land I'd argue it's a bad strategy unless you are buying for pennies on the dollar. where I'm at in columbus ohio there is a 12 months supply of land on the market so it's a buyer's market. unless the market is a seller's market which can be established with a real estate agent (less than 6 months supply on the market, and really I'd say 3 months), then I'd avoid this strategy 

@Shelly Forte oh I see. they must have used a promo code to get 20.If you go into your app, click on get free leads, you have your own promo code you can share with others and if they use it to start an account, you both get extra credits :)