I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

Tons of jobs and growth which allow for better tenant selection, low crime/safe, etc.

We have an investment property in downtown SF - the relatively nice and safe SOMA area.

I think Chris makes a good point of determining the strategy - performing 1st position notes is always a safe "dipping toes in the water" type of note to go with. 

Most out of states deals end up looking like an IRA, decent returns, safe but meant for very long term to get anywhere.  

The 1% rule is one of the most flawed underwriting techniques anyone can rely on.  

. $280k is what I ran my numbers off of to be safe.

I commonly hear that permitting is not an issue unless I am touching plumbing or electrical but just to be safe and avoid any future liabilities, I am trying to understand it is even feasible to get the new rooms/garage permitted for their intended use.3.

- What’s a safe contingency budget percentage to include for unexpected expenses?

But better safe than sorry, becuase people will pass on your place and you will never know the reason.....Like @Michael Baum said, there are many option like the mini stackables nowadays....