Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

We manage several hundred rental properties throughout the San Diego market and I found your post very interesting. 

Getting a rental license as an out-of-state investor is doable, but you’ll need to manage inspections and compliance.

Would love feedback from anyone with personal investing and/or property management experience in these cities.

.- I would highly suggest you plan on using a property management company.

. $215k is the offer that is falling through.It's not something we could self manage.

Their pro formas felt optimistic with providing 6% annual appreciation and property management that is only about 6% of rent so I take it with a grain of salt (they offer their own property management services but it has terrible reviews on Yelp so I would probably go with someone else). 

and am eager to connect with experienced investors to gain practical insights.What I’m Looking For:Advice on identifying cash-flowing properties and understanding market trends in Lynchburg or similar areas.Recommendations for a local real estate agent or property manager with experience working with investors.Insights on how to balance active and passive investing as I grow my portfolio.I’m grateful to be part of such an inspiring and knowledgeable community.

Quote from @James Bing: @Brandon Greenplate Do you manage your STRs in Hilton Head?

From there you can start to identify what you are looking for.Where do you land on the follow spectrums:Cash flow and AppreciationLong term or Short term needs (waiting for growth vs get out of my W2 now)Long term rentals, Mid term rentals, Short term rentalsBuying close to home or coast to coastSelf manage or hire a PMIf you can narrow in on those, you essentially have your buy box.