I also practice as a Realtor because I enjoy it and it is extra income.So as an investor, your options are to get your RE license and have access to a lot of tools and do the research yourself (therefore you're paying with time, energy and a little money) or you work with a great realtor/investor in the specific market you're looking into.

For me a good SFH is going to be $300K now (which doesn’t make sense) and a 4-6 unit is between $375K-450K.

Sufficient infrastructure: Companies select locations with major airports, highways, and a large population of potential workers.

My concern with declining values, increased inventory and a weaker economy would lower rental income and could potentially put me into a negative cash flow situation.

This.Also, if you were the tier 1 worker bee at a relocation company who wants to get a family housed, happy and as quickly as possible, would you accept the word of a guy who sells a course to new-to-MTR investors that "here is Eli; please send him all of your business.

Out-of-state investing makes the most sense for me—it’s impossible to cash flow anywhere near me, and moving wouldn’t make sense because I wouldn’t be able to earn the same wages or find the same kind of jobs.Before this purchase, I already owned two properties: a long-term rental outside Houston, Texas, and a short-term rental in the Sierras in California.

The key is a great contractor and a clear, detailed, well-thought-out scope of work. 

Like Having a great base of index funds and a fully funded IRA before throwing savings into crypto or the newest AI quantum-powered dog walking business! 

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

Add 2 points and a processing fee for the broker an underwriting fee for the lender and various and sundry closing costs and you're golden.