I had to figure that out myself as well a couple of years ago haha as already mentioned, first things first, make sure you feel financially stable and secure. 

I am looking to buy a piece of property a couple hours away from where I currently live.

Or, even if it has appreciated more than the $500K tax free for a married couple. 

It was bought off MLS.While I won't have final numbers until we list in the next couple weeks, and actually sell, I will say for us, it is hard to find deals.  

I recently attended a meeting with the Council or Elite Property Managers at the Pikes Peak Association of Realtors in Colorado Springs and was shocked at how many property managers were stating vacancies of over 5% - 7%! 

Look at all the rentals like yours in the area and undercut them by 10-20% for the next couple of months at least.

Quote from @Imdad Rahman: Hi,I'm diving into real estate syndications and working on raising capital for a couple of new development and value-add multifamily projects I have in the pipeline.

That, combined with a couple other factors, has me confident that it will get the top rent in the area for any multifamily unit!

The OP got some good free advice and a couple of real estate book referrals.

Its been a couple weeks since returning to BP con, and I feel like its taken about that same amount of time to wade through all my notes, ideas, inspirations, and things i "could do".