@Craig DieterichLooks like a home run to me. 35k with no improvements needed and your COC is off the charts.

Thanks a lot for explaining so precisely! 

It gives a detailed chart including Cash on Cash Return and IRR. 

If you are looking for more precise data based on Federal Government census from state to state city to city, I have found green street advisors (greenstreetadvisors.com) to be extremely helpful.

Not my chart buddy. 

(Rough number ran by the REA, with a more precise humber later today)The property is estimated to rent for $1,380 a month which I can probably push to $1,500 once rehab is completed.

I always like to rely on factual data, so for questions #1 and #2, I can tell if you invest in the "sunbelt states" of Arizona, Texas, Florida, you are in very robust markets - see the chart below that combines population growth/migration with rent growth... then, if you have reservations on investing long-distance, research on multifamily syndications.

This is precisely why I am asking for anyone who has had positive experiences with some since there aren't many that do excellent business.

There is no exact path or precise amount of time it takes to be a full time investor. 

Maybe some of you don´t mean this  per se but in general your mindset is embracing clear and precise dog whistles that are utilized to marginalize groups, targeting them for discrimination.