In no particular order I have listed some of the most popular markets for out of state investorsCincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

Where in particular are you looking into for your first project?

Alot of real estate investors only see the statistics which only the northern part of the city is accounting for :) The northern part is the portion that is causing those particular statistics while the south county/south city is doing extremely well.

@Bob OkenwaI was looking at a few 438 n 17th ave 1625 west Tonto 215 w Hadley streetBudget 400kAny zip codes in Glendale in particular or just mostly north of 60?

I've worked with one of them four times already and have an excellent reputation with them, but I'm not sure they will work for this particular project.

To make matters worse for this particular buyer, he wasn't making $200k as a stock broker, which may possibly make sense from a cost perspective, he was making a basic income and saying he was going to commute 2 hours each way and/or stay with family during the week in NY.

Calculate them accordingly and determine where you stand and if particular terms make sense to make a deal work. 

It's more about building relationships and determining what the particular lender wants to invest in.

Also, if you have any other debts, particularly revolvers on your credit report, get those paid off ASAP. 

In my original post, I stated there are multiple items to consider and did not advise for or against any particular strategy.