Even as a LIC RE Professional, it looks like without $$$$, and an intense amount of scouring, purchasing a home for myself is a big endeavor, let alone finding a REI here. 

The B and C stuff that I looked at with a client last year with in PHX seemed a little rich even then given the amount of deferred maintenance and the intensity of management required to turn the properties around.

I can name several different areas I would invest $100k but it will probably not match your goals, as some of the others have stated above.PS: I should have put $100k on U-Con Men's Basketball to win the NCAA Championship.. 100 to 1 odds..

This is also a capital intensive business.  

He is great with people (I'm no slouch, but he seems to have a way with making people feel at ease, when I am a bit more intense).

Student rentals is very management intensive and can not be properly managed from away.

Cleveland and Northeastern Ohio has received a tremendous amount attention with low cost of living cities that are walk-able, the up coming RNC and some good basketball.

I REALLY REALLY REALLY want to "tag along" another wholesaler locally and beat the streets, navigate the tax office, sit through a negotiation with buyer & seller (I will be totally quiet), whatever your most intense day consist of.

I wonder if this brings intense competition because of the very small dollars and bar to entry.

Oftentimes, these properties just need to be given an intense marketing campaign to get as many qualified tenants as possible interested.