Get out of your comfort zone.

I'm still working full time and I'm not comfortable doing a flip so far away yet.

Its not impossible to do it 100% remotely but when its your first out of state rental - its probably much much better to go in person for it - and then when you find an agent that you trust and has proven to be able to be up to the job and your needs, then future properties you can be more comfortable not going down to look at all the properties

With this strategy you could be out of pocket $10K or less per deal and essentially scale at a comfortable rate without over leveraging.

@Jeremy Altdorfer - The one point I would add to the conversation is it's one thing for you to be comfortable with the financials/income, but another for your lender.

No loans.In a country with few social safety nets for immigrants, especially for the Chinese, Abu used her fierce negotiation skills and supernatural intuitive business sense to live a very comfortable life and take care of her family.

If you’re comfortable with the Phoenix metro area and want to position yourself in a growing market with high potential, either Mesa or Gilbert could be a solid choice.Let me know if you’d like to dive into any specific areas or property types within Mesa or Gilbert for a deeper analysis! 

Thats a huge swing in expenses.I think you have to run the numbers and work backwards and then find a gross profit that you're comfortable with. 

In the end how you decide to finance your home is entirely up to you and what you’re comfortable!

Get out of your comfort zone.