My ideal location is in the middle so I'm away from severe flood risk, but still 15-20 mins tops to downtown or the beach.  

Depending on where exactly the property is located they may have some different rules/laws in place.

One who is active still and recently did a case study write up like this is Don Konipol, the other pops on every now and again and did a BP episode many years ago Aaron Mazzrillo so search those two names and read some threads.A more likely scenario is not what you mentioned as the ever growing note/value deal, at least not as outlined.

We source from suppliers that get them directly from the ships - these are normally near port cities (ours is located in Houston, TX).

It’s on the rise but you just have to be selective regarding location and try to go for turnkey or keep it minimal regarding rehab  So you don’t have a nightmare story trying to manage a rehab from Out of Town. 

I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.

I also don't want to focus on one market, and not be able to score the right property for who knows how long, and then end up missing out on other locations, as being a long distance land lord is very popular as well.

A mass shooting occurred tonight on the street next to the street where the property is located, leaving nine people shot and one dead.

Tried to search specifically for this but wasn't having any luck though I think I've ready it in here before.  

It’s located in Midwest City Oklahoma, rent for this house works easily be $850/month.