DOM can be minimized by a number of different factors including the quality of marketing, rent price, availability to show. 

That said, if you have $50k and want to invest out of state, that puts your realistic budget at $150-175k...maybe even a bit less after you factor in closing costs, make ready expenses, and reserves.

Does that factor in both the mortgage, taxes and maintenance? 

And this low demand could be a couple of factors, either a rural location with low population density or the area incomes are not high enough in order to prevent a rent burdened scenario. 

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

I work with mainly buy and hold investors here in Cincinnati.

If you can shorten the window on the cash out refinance to the next purchase/refinance the rate is not really a factor.

Multi-family properties are a great way to start since you can house hack and offset costs.What’s the main goal for you?

For my family investing OOS is a big long term goal (most likely south with mountains), but it's never been the main plan. 

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business.