Debt if used responsibly is a valuable tool but to say debt will always multiply returns is the wrong message to spread in these forums where there's a ton of readers who are inexperienced investors and will fall for the trap of following your flawed approach to originating debt.If you need additional help understanding how debt works in real estate, please send me a DM and I would be happy to help you out.

Additionally, these attract a lot of inexperienced buyers who started in the single family or four plex space who are trying to go bigger. 

This is 100x more true if the property is in a C or D area.I'd suggest reading up on the topic on the forums, where you'll find many examples of inexperienced investors crashing and burning hard trying to do OOS REI...the story is usually the same--they had no experience with REI, they couldn't find any cashflowing properties locally, but they saw that properties in other states (often the Midwest) cashflowed well on paper.

They will sell you the world and you may be too inexperienced to know what is good or bad about the property.Best of luck to you.

@Caleb Heimsoth - With all due respect and I do mean with all due respect, if an investor goes to the lowest priced or an inexperienced real estate investing tax it is just setting themselves up for headaches. 

But I'm inexperienced, so I can't just take that at face value, thinking just because it has tenants, that it'll be worth having.

Here is a trend I am seeing in all markets....COVID and Post-COVID era STR owners are selling because of many reasons (headaches/lack of cashflow/increased condo assessments/not there cup of teas for business). 

Its just not my cup of tea. 

David Greene suggest building your core-four before you start investing out of state:  https://www.biggerpockets.com/blog/core-four-real-estate-tea... 

Michael, something I want to add to your spot-on comments; I see a lot of inexperienced STR buyers, buying a property to be a STR either on their own (FSBO or through the listing agent), or through a buyer agent that has little to no experience with STR's and who doesn't have a a great STR network, strategy, has no ability to analyze a property's STR potential, doesn't know how to assess and recommend remodel or what it will cost or how long it will take and what's required by city/county, etc.