-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am glad you highlighted the management piece as this is a crucial part of buying in another market.Excited that you are stabilized and are generating cash flow on that deal. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Quote from @Hunter Hanlon Taylor: Investment Info:Single-family residence buy & hold investment.

Can you buy a house and be within reason of what your current rent? 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Once you have done it in your own backyard and know the demand of owning RE, you will be much more ready to buy out of state.

I made my money lending them money to sTudents to buy property..

Quote from @Vikas Jain: Yes, I have already seen the buy-in, im less concerned about that part of it, but just want to make sure its legitimate (plenty of opportunities where buyin is high but it doesn't always mean the product is good, just been burned in the past by others so trying to do better due diligence this time around)Their success rate, as of now, is 100 percent.

I would suggest that you find a partner or mento who has done it before.Many of the investors that I work with in your position find that buying New Construction investment property from a builder is a better option.