You are right that comparing the poorest state in the country with an island will yield the largest extreme.  

What did you find were the largest challenges to OOS investing? 

However the 2 largest items that corelate with increasing revenue is 1) LOCATION. 2) EXPERIENCE/AMENITIES.

So this reason two distinct agreements

The 5 largest wholesalers in the country are in Phoenix.

That's a big distinction you need to realize in how you do things.To wholesale, you have to talk to the seller and get them to sign an agreement that says they will sell to you and it's okay for you to find a buyer to assign the contract to.

Hang on to that low rate you currently have a get the largest HELOC you can.

If you wanted to bet on a water shortage you’d bet against California, that’s where you’ll see the largest damage.

Home Partners of America, the single-family landlord owned by Blackstone, the largest residential and commercial landlord in the US, will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.Bloomberg reported just after the close today, all those who had defended housing as backstopped by Wall Street's biggest firms and thus unlikely to crash, were suddenly silenced.https://www.zerohedge.com/mark...Nearly 70% of homes for sale in Boise, ID, had a price drop in July, the highest share of the 97 metros in this analysis.

I don't believe I have a distinct competitive advantage (yet) but agree that the risks/effort matrices are different between the two investment options.