G'Day Hughston,The best advice I could give would be to not invest out of state unless you buy turnkey.But that's just me being biased.The second best advice I can give is to focus more on the people that you will be working with over the stats/demographics of a specific area.I'm sure that this has been covered many times in the various BP books but to this day it rings true.You will heavily have to rely on the folks on the ground.They will either make or brake your investment so choose them wisely.If you buy the best house, on the best street, in the best area with the best capital growth projections.But your property manager is incompetent or a cheat.You will loose money.So, team first, area second.Much success

So in conclusion, I would heavily weigh your desire to move from the area and your desire to turn a profit in an area that you already have some market knowledge of. 

@Mimi Wright the inspector is the "Hand of God" so it depends heavily on what they said and directed to be done. 

This makes more sense to us than relying strictly on  rigid yes or no criteria where any negative  disqualifies a candidate entirely.Some criteria is weighted more heavily and can overcome negatives. 

My guess is that the most heavily populated states will initiate legislation, while rural states may be less motivated to do so. 

I personally, being on the NAR Board, at multiples levels of the organization, and being heavily involved on the lobbying/legal side have been way ahead of the curve on this stuff. 

I invest heavily here myself with reliable contractors. 

I invest heavily in this area as an agent.

It would be important to focus heavily on buying the right deals, as this strategy involves substantial leverage. 

I worked for Harley Davidson York Vehicle Operations for the past 5 years and invested heavily in York.