I think it's important to be very close (physical proximity) to your first deal, and I wouldn't want to be several hours away from my property (especially at first).

Buying out of state requires a ton of energy because in order to get comfortable you have to physically go to the area and walk the opportunities as people in 2% areas (Indianapolis) can potentially have less scruples and don't have a problem taking your money because your from the "RICH" west coast.

Loan Depot assured me they still do them even though they changed their name (they use their own money rather than investors so they can make their own rules, so they might be a good choice if you can't find someone for the above specialty loans, too, plus they have PHYSICAL BROKERAGES throughout the country).  

Physical condition of the property - looming cap ex.Amount of available depreciation and it's impact on your personal tax situation.Potential available replacement propertiesActual income and ROI specifics for this and potential replacementsQuality of management if managed by othersSector specific market drivers (SF, MF, commercial etc)Your need for active vs passive managementAmount of  profit and equity (not the same thing) locked upEverything else you don't know until you know you don't know it and wish you did!

I rent to companies that provide services to individuals with physical or developmental disabilities. 

@Dustin Moore, double check that occupancy and make sure it is "Economic Occupancy" (i.e. all the units paying all the rent), not "Physical Occupancy" (i.e. units are lived in, but paying late or not at all).You have to get ALL of the properties expenses and income, for at least the last 2 years.

It is my understanding (via lawyers) that the note has to come through an individual with reasonable and professional responsibility for the mental or physical care of the individual..

NO ONE WRITES  a physical check anymore..

The wording of the violation sounds like there was unpermitted work already done, not that there was a physical violation that needed remediation.

(big casino opening up in an already highly-desired suburb).From what I know now, my best bet would be an FHA loan for 3.5% down, owner-occupied multi-family house, and I would love to do that.