As you start out flipping some of the biggest risks are overestimating after repair value and underestimating repair costs, so be conservative for your first round.

I own a business that specializes in wood repair and refinishing, and my biggest clients are commercial/residential property managers.

The biggest roadblock for a small business expansion is the leasing of the new space and build up in a new area to cover expenses.

That is the biggest question you need to ask yourself.

I think you hit on the biggest issues those of us contemplating out of state investing have.

Up here, parking is far-and-away the biggest red flag.

Your biggest expenses will be prozac and rolaids for yourself, plan on spending about 50% of the gross.Personally, I think there are better deals out there that would have much less headache.

In my opinion the biggest factors would be the plan being built (2 or 3 br?)

Your question seems to be a reoccurring one -- turnkey versus do-it-yourself.Some of the biggest benefits to truly passive turnkey investment properties are "done for you" investments with immediate cash-flow and low risk.

My biggest challenge with this plan is buying properties at 20% discount, but that's probably the most important part!