Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

I'm glad you were successful.

It's because they think there is some "secret formula" to success. 

I wish you the best on your live in flip this year and hope to hear of your successes/lessons learned from it!

It's 5 years into payments and going strong. ya suing on land lock is not a given right and is not always successful good job selling to neighbor.I also have one.. bought house at foreclosure.. 

Depending on your down payment (which it seems like you have a good amount of liquid for that) they can nicely cash flow.Ultimately, success in real estate investing comes down to choosing a growing market, investing in a good neighborhood, and building a strong team to support you.

Do you have property managers and contractors who your clients have been using for over a year successfully?

That being said we as private investors can use this to our advantage and find some successes in POH parks or mixed POH/TOH parks. 

I am in Florida and we have a strong STR market and most of my buyers bought at high rates and using AirDNA we were pretty spot on for the numbers and we were successful in being profitable.  

House hacking is such a smart way to get started, and your focus on value-add opportunities will set you up for success.