I want to be somewhat hands on so I would pick markets that are driveable for you and visit frequently. 

I have a client that I just picked up that should have been filing a partnership return since 2006 but filed on Schedule E.  

This will show you that people have options to go out and pick another house over your place. 

Unless you're partying in Hawaii and picking real estate without doing any due diligence at all.

I highly recommend attending real estate networking events to meet more people is this space and pick their brain and learn more from their projects and see what is working and what is not.

So I added the double grounds.Sometimes you have to pick your battles.  

From my experience, I really appreciate the fact that Chris picked up the phone and called me.  

How are they picking markets?

If you pick a good lender, they will have done a lot of deals and be able to have a rough sense if your construction costs are on par for the project. 

Under that, it gets very tough.If you plan on retaining/keeping any of the properties you pick up (whether using hard money or otherwise), I strongly recommend you start working with a lender now to see what can be done about your credit.