Fortunately I have a partner that lives in the area with skills that will be able to handle the management of the property.Some of the pros of the area are seat of government, hospital, many good colleges and affordable properties.

What terms does the non-refundable deposit afford them?  

Check with your CPA or Tax specialist on the rules regarding vacation home usage for personal use.There are tons of Snowbird parks and properties in Florida/Texas/Arizona and other southern locations where you can afford to buy without breaking the bank.  

Truth be told, It's really one of the only areas I can afford to invest in.

Have you found anything that you can afford to buy yet?

I have never seriously entertained doing a RTO/Lease option in the past and really do not know very much about how everything works.  

If you could afford those extra thousands per month - why wouldn't you do so, where it is evident that the properties have been going up in value even more $$$s? 

It seems to be more affordable for my current budget.  

He directed me toward his lender, whom I will entertain.

It's a focused lending approach and also a product many banks do not want to entertain at the moment, the market is there to be created.