It's also rare you buy these properties with 20-25% and have NOTHING you need to address almost immediately in terms of repairs or capex. 

These included cash buys for flips, seller financing, and subject-to deals.

Quote from @Collin Hays: I had an inquiry today from someone interested in buying a condominium in the Pigeon Forge area to rent out.

If you buy a property with a tenant already there, what if the home needs a lot of rehab when they move out?

There is so much MORE work involved as opposed to buying a fixer-upper and rehabbing that!

And what type are looking to buy, SF, 2-4 MF, or 5+ MF? 

Look for motivated sellers off market and market via cold calling and or direct mail, geofencing, advertising and the like.A good wholesaler is as @Ericka Parrott mentioned, direct to seller, did good underwriting and can deliver an actual "Deal" whether buy and hold or flip. 

I'll be specifically looking to start in the Cincinnati, Ohio and lean towards targeting buy and hold single family and potentially multi family as well.Any advice is appreciated and I look forward to connecting. 

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Investment Info:Townhouse buy & hold investment.