There is also an assumption that the cashflow should grow over time as the rent inflation and expense inflation diverge, but housing values are high right now so I don't know that is a good bet to hedge right now. 

Remember the goal of building wealth through realestate is so that you can live the life of your dreams! 

I wouldn't do it unless you got a good deal, remember the banks going to let you refi up to 80%,also the property has to be rented out for 6months prior. if I were you I would aim a little lower with price jus incase any unexpected repairs and cash reserves

My wife is from Atlanta and can't seem to accept living in California as she miss her family and want our two kids to grow up around her family.

But remember the additional jobs added are going to be staggered with only 500 additional jobs added in 2019. 

Hi,I am trying to grow up my portfolio I’m limited to my funds.

If you want to scale your business, learn real estate and grow your investing portfolio faster due to higher buying powers in upcoming markets and you are in an area that doesn't meet your requirements...then out of state is a great option.Whether you invest locally or out of state, unless you are doing the rehab yourself, there is no difference.

In that time, the town has gone from a sleepy little town and fishing village to a growing tourist and traveler destination.

As a matter of fact that what the power of deferred taxes is - the power to use the governments money to grow from one to several - Kudos to you!!!

Bottom line, you want to ask yourself, "Where do YOU want to be when you grow up?!"