In this market 203k may not be the best option given how from the seller's perspective there are so many other "fishes in the sea".

Hey @Raffy PasionAs others have mentioned its going to be a bit hard to make that amount work well on an out of state investment.In addition to finding it and making sure its not in a war zone, make sure to consider that:You'll be a small fish for the property manager, they'll have other clients with more properties that will be at the top of their list.Your PM will know you are out of state and there is greater potential for fraud issues thereAnytime you want to visit your properties your going to spend 2 days traveling and $1000+ in airfare, hotel and rental car (This could alone could eat up half a year of profits and kill your returns)I think in this situation you would be better looking at doing JV deals on Oahu or an outer Island.  

The more resources I have the more time I have to go fishing, or kayaking with a cooler down a lazy river.

I also mention to tenants (in passing conversation) how much it hurts them to use certain firms that are known for setting up somewhat frivolous lawsuits for CRLTO stuff - when I see those firms names as representing an applicant in a previous suit, no way am I renting to them.Unfortunately, with the legal atmosphere here in Chicago, these shady firms/attorneys regularly mail out and advertise to tenants just fishing for someone who might be swayed by their offer of a $5k payday due to their landlord's failure to abide 100% by the CRLTO or in the hopes that they can milk a settlement because the landlord cannot afford to defend themselves.Good news for you is that this attorney has no reputation, so if you pair up with a solid and well know landlord's attorney, they'll likely be clobbered in court, assuming they've actually filed suit.

The existing finish has an overall look like fish scales.

Fishing for ideas here, while getting the info for title and the numbers together- I have not even seen the inside of the home yet. 

You took down a big fish today.  

Seems like they're just fishing.

You can also go deep sea fishing out of Depot Bay just 7 miles from Lincoln City.

I see you are out of Copalis, Kalaloch is one of my favoritest places on earth and in those days there were actually salmon when we went salmon fishing out of Westport.