I;ve done the corporate grind for 25 years - time to do something else ... :)I'm looking to do out of state investing (I feel CA is too over priced/out of my reach at this time). 

Never decide on a strategy ahead of time. 

The solution was to pre-lease the unit your living in collect security deposit in first months rent.

Also, networking with local contractors and lenders now will save you time when you're ready to move on a deal.When you visit, try to walk neighborhoods at different times of the day, chat with locals, and take note of any development projects or signs of growth.

Of those two, I actually like the first one better because you have a competitive advantage to that market and the amenities you could provide.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $50,000

2 bed
1 bath
825sqft
3,049sqft lot

For a long time I have rented it as a section 8 property.

I would start with those that have been around a long time and are larger in size.

I'm a first time landlord and my first tenant moves in in 2 weeks.

Since this is my first time doing this, is that a normal response?