Denver is very expensive for a new guy who doesn't have loads of capital so a market like Missouri for example is intriguing for far cheaper real estate but then Id either have to move, improve the property remotely or simply buy and hold as a rental for X time. 

There is so much MORE work involved as opposed to buying a fixer-upper and rehabbing that!

Our program teaches people how to buy small to large apartments, but we don't pressure people to buy large apartments.

You are not going to buy land and put in a mobile home and the lender in 6 months will consider it a single family home.

If you’re selling and you’re going to buy another rental no matter what, if you probably do a 1031 unless you have almost no capital gain or depreciation capture.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

I considering buying my first rental property there, and am an out of state investor.

This is especially true if you're trying to buy in the best location possible.