Last month a four plex 1.5 miles down the street sold for 133K.

Though rentometer recommends $818/month based on 15 houses in a 2 mile radius.

We have some properties in Central CT but we have found that there is not as much appreciation as we are achieving in the southeast.

I'm in southeast Kansas and it was a mild winter.

Also, it's best to stay within about a 1 mile radius of the subject property to get the most accurate comps.

I've read enough to know that I want to stay away from the $50K properties in urban areas, but I wonder about those that are located in the outlying areas of cities in the Southeast - where "country" folks often live. 

Approx. 30 mile tripAdding utilities $25,000Borrowing Costs = $30,030 (15% of total expense assuming borrowing 100% of deal as quick estimate)Property taxes/other Fixed costs = $4,000 Total Costs = $230,230Cost/lot = $76,743Potential profit at $150K/lot = $219,770Now that Ive made my risk averse estimate, my partner the awesome agent says he could sell them for $180K each at least, which could put our profit over $300K!

I had someone ask me to come meet with him to talk real estate so he can pick my brain and he wanted me to drive to San Jose which is 45 miles from me.

I'm driving a 2010 subaru outback with 252K miles on it.

@Miles Mills this is pretty common.