They seem to be able to make their desired profit.They are wagering on market/rent appreciation.They see a hard to identify value add. 

I've been fortunate enough through my research and what I learned here on BP to have bought a solid investment property, which of course started with having the knowledge to identify and recognize the opportunity for what it was worth and act on it.

You're identifying the MF trend spot on.  

Stanley's daughter came out with a new book this month updating the research -- I haven't read it yet.Stanley identified several factors that keep you rich or poor: where you live, how much you spend on the house you line in, how much you spend on luxuries, how much debt you pay interest on, but I believe his most important finding is that a much higher percentage of millionaire men than normal will report on a survey that their spouse is more frugal than they are.Getting rich turns out to be very much a team sport, specifically, a team of two.

I am in the foreign service so I will be doing this all from afar but I have identified a realtor, property management company, and lender.

I had some success before with the tax sales and wanted to try again in an area I had identified as up and coming.

What I don't like is it's hard to identify optimal investment pockets.Dayton, OHPrice to rent seems lower than Kansas City.

I am first narrowing down on a few States, then get to counties, then to cities and then to neighborhoods - leaning a lot toward the SouthOnce I have narrowed down a few cities/neighborhoods, I will look for realtor agents in that area primarily through BiggerPocketsIdea is to identify a killer agent with whom there is a connection.  

@Jonathan Klemm Im tryning to use it as a strategy to identify an appreciating markets. 

For example: if the gain you are deferring would be classified as a short-term capital gain on that year's tax return, then when the deferral period ends (when you sell your investment in the QOF) any gain that should be recognized would be classified as a short-term capital gain.This is not meant to be a comprehensive list of all the details, but just a small summary of some of the main points I identified during my first read through the proposed regulations.I hope this is helpful!