As far as investing out of state goes, I would pick something you can drive to in 4 hrs or less.

Sounds like you just need to find a deal that makes sense.. reach out if you want to pick my brain. 

anyone can buy a bad deal - just go on Zillow and pick the first property you see and buy it. 

There is value in intangible assets, at least as much as it would cost/take to recreate it - and it saves the buyer the years it took.Like Don said, maybe not interesting for a pure real estate investor, but this is a combination of a business and real estate, you have to value both.

I've done quite a few 1031's and each time I had my three targets already picked which means they were less than two weeks from being signed when I closed on my downleg. 

Thank you for the feedback Russell, I am definitely hoping it picks back up in the spring.

a lot of new investors pick the cheapest markets in the country regardless of how far away they are, and how much knowledge they have of them, and I think that's a huge mistake. 

I would pick a major tourist destination where it wasn't saturated with STR's already.That would take some research but you could google top vacation destinations and find a place you would go on vacation.

We were so bummed about starting over with a new lawyer after the one we worked with for months told us they decided to close down, but luckily the new lawyer we picked is fast and aggressive.

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