Currently reading The Intelligent Investor by Benjamin Graham and the BRRRR book!

The seller can’t sell for more than the balance of the note, that’s the reason he’s taking the risk of remaining liable on the mortgage.Some people have had success with doing subject to deals and leasing out the property by artificially increasing rental income by use of a lease purchase option, so they are able to generate a positive cash flow.

Cash for keys tactic.Say both sides are intelligent sane people.Tenant knows he has one year left no rent payments,  say $24,000.How much do you as landlord offer. 

While I cannot speak intelligently on the Chattanooga area, I will say that the most difficult part I have found to investing out of state is ensuring the quality of what you are paying for.

Analyze, and take intelligent action.

@Steve Mandelbaum, your concerns and approach are valid and intelligent, IMO.  

But, looking at the natural resources that are close to Portland and the artificial urban growth boundary continue to keep it desirable on the list of places to reside.

Therefore, I think it makes a ton of sense to buy a good below market deal using a nothing down VA loan, force appreciate the house by intelligently updating/rehabbing the property while you are living there, renting it for the next 2.5-3 years and selling it to capture all the equity.  

Scott I so very much want to agree with you, but for your narrative to be true it requires a construct that politicians are 1: intelligent and knowledgeable of actions & effect on the market, and 2: always act for what's in the general publics best interest.  

As you probably know, one of the main reasons why investing in US real estate is so attractive is the artificially low interest rates, which have been going since the last US real estate bubble exploded and seem to have some time to go.