I'm also not a big fan of really cheap turnkey properties because they tend to be in challenging areas when it comes to Property Management.

Rachan Malhotra - if you want cheap Fannie/Freddie financing, you'll need to acquire any properties in your name.

I think I would be a far greater negotiator during the process which would serve them well if I could get the liens down to a cheap payoff.3.

However, you need to collect the BAH when you get there, so find a small (uncomfortable small and cheap) place for your family to live until it is rentable. 

Many agents list undermarket to spur a bidding war.. many props will have 10 to 20 offers on themI just sold a little dinger Yesterday in Salem oregon  4 offers in 24 hours... and thats a starter house 200k which is about as cheap as a renovated home goes for.I sold one Friday in Sacramento it had 3 offers.. and we were able to remove the FHA lender clause and force them to conventional.. so we did not have the flipping time lines to worry about.so its market driven for sure.

We are six hours from Chicago, driving, or 40 minute flights are pretty cheap, Chicago to Cak. 

Cheap long term financing has value.

Don't get lured into investing far away because property value is cheap.

DO NOT BE AFRAID to outline high costs for rehabbing to current code -- complete new wiring, plumbing, 100% new drywall, ceilings and floors, windows and doors, kitchens and baths --- porches, landscape-- are not cheap.

We bought it cheap and sold it cheap.