I should add that no matter how much due diligence you do, there are bound to be surprises, both good and bad.  

Matthew Cain it really comes down Matthew without offending anybody, do you want to make $50K per deal or $3k per deal, I have many friends who do out of state investments, sure they do fine, with the small $40k homes and they cash flow but in times of crisis they have lost homes, takes months to get a tenant in does parts of the country, houses loose value, and many problems Califonia dosent, have does problems, I had 3 Invesments in Ohio, and they were the worst idea I had, I am happy with my rentals in California, and sure you need to make $250k-300k to have a good life here but, at least try and keep trying instead of moving somewhere else, people who give up might do well, but not as well as does that keep trying till they get what they want.

You could just cut it loose and take down the equity deal.

I know that as I learn more and gain more experience, things are bound to change; this is what I've come up with just to have some sort of guide to keep me on track. 

We have a loose idea of what we want to learn more about: seller financing, wholesaling, buying notes, pre-foreclosures.

I wanted to post the loose stats they gave in consultation.  

It's a fast and loose "industry" and I actually think that being great at spelling and punctuation is not a key to success.

Trying not to get shot, or worse, loose money on a bad investment area!

I guess, cash flow is not king if you loose your shirt in a war zone. 

However, the result was shadowed by loose planning on behalf of the investor, although I walked away with a strong understanding of the good and bad.