WE have to build some pretty robust storm sewer systems sometimes that system alone with be 10k a lot.. etc etc.. as they say its all location specific. 

Finding out your specific goals and what type of strategic investor you are will help narrow in on a market.

Shopping: Tannersville Crossing Premium outlets: over 100 brand-name stores      Choosing a short-term rental strategically located near these attractions ensures that visitors can make the most of their time in the Pocono Mountains.

If I didn’t have any experience, I would probably just go with a strategic single-family home purchase right now to bide time before I would consider paying the capital gains.

The house I'm working on right now ended up getting 700-800 sq feet of unplanned new flooring (plus removing of that 700-800 sq feet of glued in laminate flooring) and a rebuilt cabinet due to water damage that was hidden by strategically placed furniture.  

Having also just finished reading David Greene’s Long-Distance Real Estate Investing, I had the same question with regards to strategic locations to start looking out of state.

In fact, Columbus is experiencing a year-over-year population growth rate of 0.75% and a robust employment growth rate of 3.58%.In addition to the job market, the rental market in Columbus is also thriving.

Their accounting is not very robust (and doesn't import my bank transactions) so we still used QB online but it is not as much of a pain to manually enter it so I think we are going to keep Buildium for our one part of the business and Quicken for our personal/local stuff.  

Pick whatever structure you wish for your business, and in January of 2017 you can file your taxes, yielding the necessary 2 tax year average.Really you should be looking for a local lender that is forward thinking and strategic enough to realize that if they help you structure your documented income in the most advantageous way, there's business in it for them in 2017.

My feeling is get your first 10 paid off and then strategically pull equity out to either do capital improvements 15 to 20 yrs down the road, buy more property or invest somewhere else since the equity pull out is tax free.