Don't think you're going to do it so easily outside the tougher neighborhoods.

For those who are trying to time the market, since the value add deals are tougher to find, for your newer acquisitions, what are you doing with your investment strategies to lower your risks and protect your assets should the market take a tumble?

Contractors are tougher now than a few years ago when the market was soft and even the great contractors were in need of work...These days, you have two choices -- find perfect contractors and let them run with the project, or find not-so-perfect contractors and manage them closely. 

Finding vendors is going to be tougher / more expensive, you're more likely to deal with squatters, vandalism (even with a BPO), etc.

 In Cordova and Bartlett (Memphis) today although the inventory is getting tougher to find, you can 15% or 16% cash-on-cash return with 20% down and traditional non-owner occupied financing.

Real estate is so local and when you are a 1000 miles away it is tougher across the board to gain a leg up.

Plus, this is one of the most tenant favorable counties in the country, which can make buy-and-hold a little tougher. 

Custom is better in a densely marketed area and with SEO you can beat them with an out of the box site, but it will be tougher.

It is a little tougher in JC as the price to rent ratios don't work for most investors.

I only see the 1.5+ ratios in tougher neighborhoods, I have been leaning towards better neighborhoods, sacrificing a little cash flow for stability.