Long-term, buy & hold is a great strategy - I've always been a firm believer that you have the upper hand with these properties in the investment field because you have the advantage of being first in an area then being able to wait for appreciation for whenever you want to sell "when the time is right".Often times, these rental properties also don't involve the full scale upgrades (less money out-right) that you would need in a traditional fix-&-flip in order to hit projected ARV's.The one draw-back here is out-sourcing your rentals to a property management company - which finding the right one for the right price can take some time to vet - or else managing the property yourself, in which case you will need to start building relationships with contractors to ensure proper repairs are being done and the needs of your tenants are being met.You can do buy & holds out of state easily, too, just find the right market that is land-lord friendly (for example, mid-west: Indiana), and I think its fair to say you could do well long-term with the right properties!

Use value-add property locally (and take advantage of the excellent appreciation rates) to fuel your BRRRR/long-term buy and hold investments in other areas that afford you more cash flow.

We want to take advantage of a primary res mortgage while we can in CO which makes it advantageous to buy, but we may be looking at more WY or OK properties.

Depending on your brokerage, my first piece of advice would be to take full advantage of any and all training you can get. 

Hi BiggerPockets Community,My name is Kendenn and I am excited to begin my journey in real estate investing and of course, take advantage of everything the BP community has to offer.

So what contract is the right one that has all the correct sayings and words so nobody can take advantage of it?

You just need to be careful neither one of you feels that the other is taking advantage.

I feel it is an advantage to you to find a quality realtor/property manager because they have a vested interest in securing quality properties as they will have to deal with the issues after you close.

I would love to do that, but I  don't want to be taken advantage of because I don by have the experience 

@Gerardo Gutierrez the key to getting the most advantage out of the BRRRR strategy is to budget your remodel.