i suspect you'll say "too expensive," but out of state comes with challenges too, and getting crushed by deferred maintenance and overpriced contractors is actually very expensive.memphis in particular - to be successful there, you'll need a team and a strategy, not just interest solely because it's "cheap" to buy there. 

Cheap.

Cheapness and inexperience everywhere. 

Another thing to note is that the land bank has a ton of cheap property but they are not worth investing in even though it may look enticing because they can be much "Cheaper" but the ROI is not there unless your a heavy cash investor with a ton of experience basically building from almost nothing.

This is JP Morgan, once the demo/free is done for 2023 and they decide to start charging, it won't be cheap.

You are not going to find cheap, easily obtainable, and efficient.

Originally posted by Joel Owens:With carpet you want a Nylon carpet even if the cheaper version.Some carpet guys will try to sell you the rubber composite carpet stuff which is the really cheap stuff so it will stand up to tenant abuse.The problem is it can only be cleaned usually up to one time and then you need to replace it again.So I would rather get a cheaper nylon that can be re-cleaned many times over after installation for an additional .10 to .15 a sq ft extra than the super cheap stuff I will have to replace again.Thanks Joel, I need to buy Carpet on Friday and found that educational.

A PM would have taken most of that.I have seen too many OOS investors fail buying cheap properties in rough areas not recognising that over time capex exceeds cash flow.

You could also potentially rent it to someone cheap month to month with same option. 

new construction is very strong right now. deliveries went up every year in central ohio. existing inventory saw a 30% or more drop in unit sales but new construction has grown every year in terms of deliveries and sales. you are selling below what most new construction homes are selling at and also existing homes are selling at.