Have good credit, and solid work history3.

I'll be rooting for you here in Orlando, Fl Blake!

. :) Neighborhood stats/demographics seemed good enough, seems like a solid blue collar neighborhood.

The best case scenario for someone who's not a young gun looks something like this in my mind:You have cash tucked away to cover:Downpayment6 Months of mortgage for the new property (in case of vacancy)6 Months to a year of salary put away in case you lose your jobAlso, you'll have a solid W2 job with enough income that if you lost everything listed above, it wouldn't ruin you.

Opportunities here are limited and we are very rooted here because of family.My wife and I have been discussing options and alternatives.

(As stated before in this thread, you really need to build a solid relationship with these folks as their terms on timelines can be pretty strict).3.

I personally am not a fan out of out of state investing unless I have solid partner in that state.  

Also make damn sure she has a very solid pre-qual letter.  

I do, anyway since my parents are still there :)My next steps are to form either an LLC or S-Corp (still researching which) and form solid relationships with an agent, contractors and HMLers.

Solid brick, probably wouldn't worry about it on an annual basis.