Betting it will be another two check situation.

Vintage, location, etc...all matter and making a little less cash flow for a safer, newer investment is a wise strategy for a first time out of state investor.

A HELOC or looking for private money sounds like your best bet in this scenario.

Talking to local banks is the best bet.

As @Lane Kawaoka mentioned MUCH MUCH safer to buy higher end and have rents north of 800 per door.. much better quality tenant.. when your talking a 600 or 650 tenant the quality of tenant goes down exponentially .

Lately my bet has been on Fort Gratiot as that area is expanding with new businesses and housing.BTW are you from Port Huron area?

I for one would bet prices are more likely to stay flat or even continue to fall in many areas than to start any sustained appreciation.

I'll bet someone saw the tax bill addressed to "The Est of" 

At 20, 50, or 100, you bet I would have to go paperless and systematize it with a service and program just to keep track.

I would bet most neighborhoods in Lakeway are in HOAs.