Greater fool theory in play here, somewhat.As of right now, the big money (REITs and Private Equity) are focused on B(ish) properties, just as lenders were traditionally focused on A-paper and Alt-A borrowers in the beginning of the mortgage boom.

I've done condo conversions of apartment buildings in Bellevue, Murfreesboro, and Green Hills and sold several hundred multifamily units in Middle Tennessee so I feel as if I've got my fingers on the pulse of things, but I'd need a bit more info.There's an infill boom going on in town right now, so anything with density in Germantown, The Gulch, West End, and East Nashville is going to be difficult to find and pricey.

In regards to @Jefferson Miner 's concerns, a bigger danger that many did in the last boom was count on appreciation rather than cash flow when looking at financing repayment.

And most of them are booming right now.

If you are afraid of missing out on the real estate investment opportunity boom, which is what you've described, beginning by purchasing out of state properties is not, in my opinion, a very sound strategy.

Let me clarify my original point so I am not misunderstood.I would be extremely cautious if a would-be "mentor" used past experience (especially pre-boom) as their only experience.

Given we were coming out of the Great Depression, the Fed barely raised the short term interest rate, and boom we were in a recession again.

I did research the county appraiser and tax collector websites and three have structures on the property; house/shack, mobile home and retail store, the other three are vacant land.

Re-aging a collection is illegal for time limits for removal and you can hammer creditors for trying it.The debt is still owed but the collector has weak options and will settle for cents on the dollar.

I got my house leased to a well qualified tenant in less than 2 weeks.I once attended a seminar during the good ole' boom days and there was a company out of Denver, Mile High something or other, selling a development of duplexes and I believe offering management services.