Look for track record, conservative underwriting, a good team, good market fundamentals, and a solid exit plan that provides you with a 1031 escape hatch.

I also buy properties out-of-state.In terms of advice and such...my first advice would be to get really familiar with market fundamentals.

Did or are you learning RE basics relating the fundamentals to investing or are you trying to copy blow hards who post fish stories to attract business?

There's lot of resources out there that talk about numbers and market fundamentals and such (I have a lot of articles on here about all that if you have any specific questions...I can pop you over some info).What budget are you working with?

If you are investing in a smaller town with a regional college, just look at the same fundamentals as you would anywhere else.

hl=1Also as Bill Gulley mentioned nothing is more important than learning the fundamentals.  

I do not have an analyses on the "fundamentals" of Stockton to offer.

Fundamentally, it is the same reconciliation.

As for my regular buy and hold rentals I am not concerned on what the market does as I do not speculate on appreciation and stick to the fundamentals of investing because we all know its not about timing the market but time in the market for investments like that.

Your plan is a very common one, as it has fundamental merit.