The law on restrictive covenants is very state-specific and developed through case law over time.

A lot of my out of state real estate clients really like this market because the macroeconomics look so good for this market - population is growing, job growth is growing, and so many companies moving and developing here. 

Additionally, there is current optimism with the new mayor, who is focusing on economic development and infrastructure improvements and literally cleaning the city block by block, further enhancing the city's investment appeal. miami doesn't have huge swings it's had 12 years straight of appreciation 

I just signed a consultancy agreement with a data center developer who is currently looking to purchase property suitable for data center development within the Commonwealth of Virginia.

If you don't have trusted professionals in the area you are looking at I think you should do some serious ROI calculations on the trips out there, the time developing the relationships, the time marketing and managing, etc.

Most new development is well over this mark and, since there aren't likely to be many more complexes built that offer decent living conditions for lower-end rents, there is probably some room to raise Class B/C leases in the coming years as more people move into Louisville.And, if things do decline, the "luxury" crowd is going to be looking for cheaper digs. 

Heck, maybe you'll get your buyers list through finding great deals (aka sellers).The more you ask and read about, the more you'll develop a plan of action that suits you.

Everything else takes twice as long as it should take anywhere else. 20 years ago I had a developer in my office that had just relocated up here from Florida and was complaining about how long everything takes, how slow subs were, and how impossible it was to keep anyone on payroll.

I disagree, we have developed our own lease and supporting docs.

Knowing which neighborhoods are better to invest in than others and developing a sense for what to expect investing here.