Thank you David, without a doubt very good advice and it definitely makes a lot of sense.The reason I am looking out of state to begin with is because I have been told by many experienced investors that the OC market where I live is at its peak right now and it is a terrible time to buy an investment property here.I am starting to realize the struggles in trying to buy cheap foreclosures that need little work and I am also learning that appreciation and cash flow almost seem to be mutually exclusive.I will continue to research and ask questions in the hope that my next decision will be a fruitful one.Thank you again for your advise, it is very much appreciated. 

That 6% cap isn't terribly exciting, but if you were willing to offer the same property as a lease w/purchase option, no credit check @ 4k down and rent at +20%per square foot over market, you could cashflow significantly more and pocket some nice option money.  

Find a terrible, run-down house in a nice area (in a city like Denver there are plenty) buy it for cheap, renovate it (either before moving in, or while you live there), and if you decide to move sell it.

The answer is terribly simple.

So having recently bought my first house with a no money down VA loan (Did everything wrong, got a terrible deal.

A quick disclaimer: I'm terrible with aesthetics, and I have no eye for these things.That said, I do have an eye for money, and I do follow trends.

Makes me wonder if using the average price per square foot instead of median sales price would make more sense.Also, I love that Louisville is in the bottom 10...hopefully that will keep other investors out because as this study indicates it's a terrible place to invest :)

Would you be terribly repulsed if your unit looks like her current unit looks after 7 years or is it pretty good for that length of time for a renter?

They do sell a lot of "classes" and such, but they're never terribly pressuring.

They provide decent heat and are not terribly expensive to run.