Some times, not all of that information may show up on a timely manner as it may have been in the "middle of processing" so something to think about.  

Some locations I’ve considered are Indianapolis, Kansas City, Dallas, Charlotte, and Baltimore, because they appear to be better suited price-wise for someone just getting into the game, and their rental markets seem stable and profitable.I’ll be in the US for about 4 weeks from the end of May to the middle of June, and in that time I hope to visit at least one potential location to meet with brokers, and try and establish a working relationship with an accountant and lawyer, and other investors.

You options are not completely polarized; you can also look at middle ground.

I am currently in the middle of a rehab which I plan to make a rental and then refinance.  

-You can lease option from the seller and assign the deal for 3 to 5% feeYou can do a sandwich lease-option, stay in the middle and sublease and sub optionThis variations on the sandwich where you can do an equity split where you perhaps help the seller get a part of your back end profitSometimes you can do a reverse assignment where you lease option from the seller, you sublease and sub option, and then you assign or sell your option to purchase directly back to the seller for a note to be paid when the tenant buyer buys it from the original seller (for rookies I know that's a little confusing)Then there's master leasing is where you'll just take over to the tenant leases and take over subleasing to a group of tenants, for differences in cash flowMaster lease optioning small apartment buildings has to do with guaranteeing the NOI , paying one payment to the owner, and hiring a management company to manage the tenants.

Remained current for approximately 1.5 years, middle of 2008.

I'm not currently in the middle of a rehab; the reason for this thread, which in retrospect I should have included in my OP, is that I'm tweaking my contract.

Despite constant complaints about it being one of the most expensive places in the US, it has only climbed to 67% of its historical unaffordability, just below the middle of the pack.

Does this mean I am purchasing the house from the middle man?

Might as well cut out the middle man and make more!