This is a great place to connect with folks in your target areas and abroad.While I do not have answers to all your questions I can tell you that lease options are not popular in Queens.

In no particular order I have listed some of the most popular markets for out of state investorsCleveland, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeBirmingham, AlabamaKansas City, MissouriSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

I am totally dumb as a rock in this area.

I live in Tampa, FL and multifamily units are very popular here.  

Here's my list:Extremely precarious and difficult entry from driveway, involving loose rocks, steps, super-narrow brick path.

I think building a cash reserve is the popular option to put 20% to 25% down.

In no particular order I have listed some of the most popular markets for out of state or out of country investors.Cleveland, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeBirmingham, AlabamaKansas City, MissouriSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiThe financing will be tough but there are 2 or 3 lenders that I know of that will loan to out of country investors so it is rare, but possible. 

In no particular order I have listed some of the most popular markets for out of state investorsCleveland, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeBirmingham, AlabamaKansas City, MissouriSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

They're growing in popularity for people who are environmentally conscious and it supports re-greening an area.

The property is in one of the most popular neighborhoods in LA and I think even in their very basic state we could get 800,000 to 950,000 for the two bungalows.