I always say that if you can survive the mid-size property phase of your career you'll survive anything. 

You are going to have to target mid-west, southeast states likely for that price point.  

Hoping to close and have my place ready to rent up by mid September the latest.

YUp I wonder what the percentage of renters are to home owners in America.. in some parts like the mid west I suspect its over 50% 

My HML company that's all we did for investors for 6 to 7 years was BRRRR its how 90% of rental real estate in the Mid west was sold the original turn key model was all BRRRR we financed over 2,000 of them for investors.. this was 2001 to 2008 when the refi market froze. 

Last week end i visited Meridan, ct, if you really hit a mid range market on the rise, then Ct is the way to go my friend! 

Given that I'm located in Southern California, I'm trying to get a feel for markets in the mid-west primarily where other investors have found success.

I went back to Oregon with my tail between my legs no way to compete.. then took our 54 home portfolio and sold it to these same companies 18 months later for better than 50% COC return.. but they still got good buys.. it was bound to happen.. coming out of the GFC.homes were selling for as little as 25% of replacement costs.. now at least they are back up to about replacement costs.the mid west though existing inventory that gets recycled to buy hold investors is still selling at below replacement costs.

I am trying to do mid-class if that changes anything. 

New construction small Lot Division in Culver City/Mid City/ Hollywood/ETCI'd love any help/guidance/ideas.