Let me tell you its like pulling teeth trying to get a rate and fee quote (yes I totally understand that rates change and it is dependent on a variety of asset factors) I did find one small credit union that gave me 5.25% 80 LTV 25 year amortization, 5 year ARM, and only 0.5 point fee - problem is they are restricted to certain states.

This will be a big factor in getting a cash out refiWhat bank are you working with.  

Investing out of state can be difficult, however if you can utilize all of your current knowledge and now just partner with a talented, sophisticated, strong track record Turnkey provider, this will be a breeze and in-fact may turn into a new lifestyle for you. 

Factor in:Tenants who may, after a short while, not able to pay the rent.

Looking forward to the journey, and can not wait to fully dive into this as a lifestyle!!

Show some newer investors why the land under can be the deciding factor.

What factors can I take into account that may assure me I would be ok, is there a population or statistic?  

Considering the neighborhood and size of the house - the two most important factors in the ultimate value of the house - and using comps and my knowledge of the local market, I figure out a "drop-dead" offer, a likely offer, and a "fire sale" offer.

I urge you to consider all factors before making an informed decision.

There are so many factors, including the skill set needed and the personal inclination of the investor.