Denver has a lot of older properties with value-add potential—small upgrades like fresh paint, updated kitchens, or even just better landscaping can make a big difference in forcing appreciation.

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

Even if you stay on top of it, other stuff can happen.

Look into Baselane it’s designed specifically for real estate investors, You get automated rent collection, expense tracking, it makes it easier to manage properties, stay organized, and keep up with your finances. 

Since you’re committed to staying close to family, I’d suggest focusing on properties that might need a little work but have potential for appreciation in your market.

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

Try to stay close to the median home price for that city. 

All that matters is whether the property will attract reliable tenants (A reliable tenant stays many years, pays the rent on schedule, and takes good care of the property).

I am basically looking for a cashflow property in the Lehigh Valley or anywhere else, but I would love to visit the property as I am staying in the NJ/NY region.

Quote from @Devin James: Quote from @Dominic Mazzarella: Quote from @Devin James: Everything went wrong with this investment:   - Took 4 months longer than expected   - Cost $10K more to build than we anticipated   - Sold for $20K less than we anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.Here was the original post:My siblings and I are building a home in North Port, FL.Here are the numbers: - Finished Home Value: $412Kish - Land Cost: $19,750.39 - Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!!