I would have the same concerns that Zach Kidd has with it being a small market - that tiny market may give you a lot of good leverage on the purchase price, but you may find it very difficult to get a good appraisal  and your vacancy rate may be way off in a market that small.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.Consider checking out HUD homes for small multi's owner occupied gets first crack.

Hell I can jump up on stage with my headset and tiny mic and get a room of people fired up to employ my "ninja buyers list hack" vis a vis calling bandit signs and we buy houses websites.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.Consider checking out HUD homes for small multi's owner occupied gets first crack.

Some minor stair-step cracking in the mortar, some slight sloping in the floors and out of square doorframes, a bit of bowing in the exterior wall.I'm pretty good at finding these issues, but I have no idea what it costs to repair.  

I live in Rhode Island, so it's tiny to begin with and I seem to have limited names that keep popping up.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.