For one thing those are not active markets which means much more transactional cost getting in and out.

There are active members here doing well in that area here.

A lot depends on your goals.Here is a previous thread that may give you some answers.https://www.biggerpockets.com/forums/55/topics/103905-another-newbie-question---if-you-had-400k-how-would-you-spend-itYou also need to decide how active or passive you want to be.

That may or may not be in the range of the median house price depending on how much new construction activity is going on in your market.

It is a great forum for learning and asking questions and meeting others in the area who are either actively investing or just starting out.

There are very active REIAs in Georgia REIA and Atlanta REIA.

There is a good contingent of people from Metro Detroit who are pretty active on here and there were 2 recent meetups and I'm sure more to come in 2014.

., provides an online technology platform and patented client management system that allows real estate agents to provide their buyers and sellers the industry's best search experience, including real-time MLS data and public records, the ability to view their customers' search activities and collaborate with them online, and to easily and automatically provide other information and tools to help clients find the perfect home or market their property.Listingbook has 70 MLS clients and is available to 60 percent of agents nationwide.

It's like an Olympic Race, because you will be competing withHomes that are already sold in your immediate vicinity (aka Comps or Comparables), but you are competing with:Homes that under contract,Homes that are active on the market andThose homes that will be coming on the market.You have to determine (as an licensed appraiser would) how your home compares to all the other homes in terms of amenities and conditions.

I'm fairly sure there is a bank out there that will lend in the high 4s to you so long as you move quickly.A few of my favorite points:1.