Without investing time into research and understanding a neighborhood, REI can be a bit of a gamble.

It you found THE location and McD can't go anywhere else in a cheaper market (not typical) then you could try to ground lease but that's more of a risky gamble and I'd have many exit strategies. 

Make sure your not buying on the wrong side of a city/school border and are using rent comparisons that might be geographically close but are really different renter markets(like buying in East Cleveland and using Cleveland Heights rents).  

We have a competitor who owns a property bordering a major river and they are constantly booked and their rental is nice but not not that nice.

I live in Washington near the border to Idaho.

Not worth an OOS investor gambling on investing in that Neighborhood when there are so many other BETTER Neighborhoods.

That is going to be extremely difficult in a market like DFW, bordering impossible.

Pick up a $4-$5M with 30-50 Units in a C area at the border of a B area, or in an expanding area.

We have this great plot of land which borders main street and another street on which we’re rehabbing a couple of homes.

While I understand the numbers have to fit my agenda, would it be best to look in another state since i live near the NH border?