Landlord laws was the main factor why I chose to invest out of state and have been happy with my decision to do so. 

These two factors will get investor rates down to a reasonable level.

That's certainly one of the factors since 1sts tend to have tighter margins than junior liens.

Factor in vacancy.  

You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

Hey Elizabeth - I'd factor in about $10k to get a padsplit up and running when it comes to furnishing which would include washer / dryer, additional fridge, bedding/desks, common area furnishings if you want to offer a little better experience.I'm only familiar with ATL - I think accounting for 1 move in / 1 move out per month is a good conservative assumption here.$8kish / year or so on routine and reactive maintenance combined which should include your cleanings, lawn care, maintenance calls ect. 12% per month of gross rents should be a good estimate if you want to look at it like that!

If price point for these properties is a limiting factor, properties found on the North side of Veteran's Memorial Pkwy can be viable too, as long as they are on the East side of Santa Barbara Blvd, and South of Pine Island Rd (SR-78)

It's good to look at data and then your lifestyle, time, and energy to find the greatest city to invest.

I am not seeing how that is possible when you factor that 6% tax in; and yet Greenville is a popular place to invest…am I missing something???

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)