per J Scott request, here is an update on my first flip...After getting comps and a more formal quote from a contractor, here are the big numbers:Sale Price: 390kRehab Cost: 126kPurchase Price: 150kThis leaves me at an ARV of about 71%, which is within spitting distance of 70%. ( I personally think the 390k sell price is a bit conservative, but I think staying under 400k is a safe price point.)I currently have 2 private lenders lined up to split the rehab costs 50/50.

Also a distance option like within .5 miles of prop ect.

I know I am getting ahead of myself, because I havent even bought my first multifamily yet, but I like to always have a goal off in the distance that is just a bit further than the next.

@dean Letfus: Thanks for your reply, I am still trying to figure out how to close on a deal from a distance without using turnkey companies.

Our local area got too expensive for our buy and holds, so I analyzed areas within driving distance (no more than 5-6 hours away), but I looked for largest growth rates, then median incomes, average home prices, average rents, national school rankings, etc., most of which are easy to find online.

If you're in AK and investing from a distance, why choose CO?

This is where long-distance investors ought to be looking, not in the city.

Until you have some experience I highly recommend against investing long distance.

We actually have 2 FHAs as we purchased, then had to move a long distance for work after 2 years, so we met the exception to get a second one.

I prefer to look at properties where I can be more hands on rather than long-distance landlording.