My relationships with my friends are stronger than they were.

While this isn't your 2% rule, I think you will find this much stronger than anything possible in the Denver metro and much easier to manage than an out of state rental. 

Generally you'll get a better class of tenant, less turnover, less maintenance, and possibly stronger appreciation depending on the area you build in. 

I just started exploring northern Arkansas from somebody I know who leaves there and will seek to compare many markets to get stronger feel.

You don't want negative reviews.The other option is put stronger messaging around the road into your listing.

I've been cautious to make sure I'm purchasing pretty well (I was fortunate enough to buy a duplex for 52,500 with gross rents of 1125 per month, and a SFH for 50,500 that rents for 775), but as I look to expand, its certainly going to be more important to get a stronger handle on determination of cash on cash return per property.With that being said what do you include in your acquisition costs? 

I'm just trying to get feedback from folks to make sure there's not an even stronger argument in favor of diversifying my locations.

Sometimes, tough love looks and feels ugly, but it can be extremely motivating dose of reality that either makes you quit or motivates you to get stronger, faster, and smarter.

If the docket is light, I will also add folks who meet the minimum qualifications in between the stronger candidates to fill my dance card.Right after the showings while the experience is still fresh, I sit down and fill out a T-chart for all the prospects I would consider. 

But your offer would certainly be stronger than a financed offer if all things are equal.