For example you'd buy a 200k property for 100k, spend 50k to rehab and then get it appraised for 200k and pull a loan for 150k.

many houses in the midwest, for example, are very old and need major rehabs.i personally think out of state investing is more difficult than advertised, and much more difficult in the current investing environment, with: prices high; interest rates high; tremendous demand for inventory, by both investors and retail buyers; and good PMs, contractors, etc. booked up.here's a really thoughtful thread with the experience of another CA investor and lots of different responses:https://www.biggerpockets.com/forums/12/topics/1215726-break...and here are some threads about how it can very easily go wrong:https://www.biggerpockets.com/forums/48/topics/1159104-overl...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...finally, you also said you "don't have a lot of money to start with." 

For example, the valuation method is different, and banks lend on it differently. 

For example, in Kansas they have the 14/30 (basically you will rectify the situation in 14 days and if not you have 30 days to depart i.e. before you can file eviction).

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

Example: $100,000 versus $70,000 basis.  

Here's an example comparing three different loan originations:Loan A: No interest reserve, but $15K est. interest payments for duration of the loan.

And as I explained before, motivation is NOT a sata "thing", it is an emotional thing.The best example I can give you is this.Someone in foreclosure.

For example, part of the exterior of the house wasn't stained.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.