Once you have a few local investments under your belt and have some hands on experience, then and only then should you consider out of state, but by that time I'd bet you would come to the same conclusion I did which is that there are plenty of profits to be had locally and there is no reason to venture out of state.

BUT, I'd bet on Real Estate before betting on any 401(k). 

Your best bet is to use the USPS's Every Door Direct Mail (EDDM) and mail oversized postcards.  

A Realtor will probably be your best bet to price it out.

@Ian M.You can actually file it yourself online HEREIn my experience if it was an arms length transaction and your purchase price and the comparables are much lower than the appraised value you will win without even physically showing up to the hearing.

I've searched all over the internet for some insight into this, but figured it was such a specific question, that the Bigger Pockets community was my best bet to finding some advice/answers!

Then your best bet is to put together a solid business plan (including information on your background and what you bring to the table) OR find a great deal and get it under contract.  

To avoid the double tax, an LLC may be your best bet. 

I too spent lots of time and too many dollars on a Doctoral Degree that I no longer use (clinical doctorate in physical therapy-so a whole lot easier than yours:)....Investing can do the trick for you.  

I'm hesitant about this because other than my daily searches of properties online, this would be the first home I will be physically looking at.The townhome is on the west side of Atlanta, right outside of 285  in a "decent" area.