@Britt Clark I’m also having difficulty finding non recourse commercial debt in the ~$300k loan amount.

I understand commercial properties are appraised with the income they are producing, but I'm also having difficulties projecting that. 

Can anyone with experience in managing property out of their area comment on the difficulties involved?

Before my days it was a steel city on the decline after the 80s but it is now an up and coming town filled with younger people and growing technology. 

You might have difficulty getting a loan however if you don't have proof of income.

Having slight difficulty identifying opportunities in my area that would allow a multi-family with FHA.

The building may not have enough funds to take care of common areas or if there is any unexpected maintenance surprises there might not be enough in buildings Emergency Funds..Worst case if the Building Finance is not in order building will have issues getting financing.If a homeowner is selling their Condo, a buyer might have difficulties finding a bank that will finance the Purchase.That happen to my building back in the 80's I was told, sellers could only sell to cash buyers and as you can imagine they got a pretty good discount..  

Technology changes fast nowadays.

Yep and you might experience difficulties in selling as well. 

I know the answer probably is yes in many instances, but here is a broad example of a note that I am looking at: -Performing 1st with no missed payments over the past 15 years-Equity in the house - less than 60% LTV-Property is in rural WYThe note has been performing well for a long time and I view the chance of default as fairly low........however, if I ever had to foreclose on the property in the future, I am worried about the ability to sell the property (either through auction or on my own) might be difficult. I