Jason, your logic seems to be right on but investing that far from home seems a bit risky.If I were you I'd put a little bit more down and invest locally or with a professional company that handles all of that.The company I work with has a lot of people come through as first time investors and we have remodeled properties with tenants already in them paying rent.

Some people are very easily fooled by a few fake testimonials, a fancy website or a professional looking business card.

@Brandon, Nelson, I appreciate as a professional you make the effort to price properties based on the current market.

8) No tenant can be an elected official or member of a professional sports team ( a contigency to my insurance- seems strange to me!)

We usually look to get about 3% or a hair above.

I hire a professional stager and photographer for every property I'm trying to sell.

I have 26 occupied units plus 5 in the renovation pipeline, they are all 100 yr old buildings in decent areas with mainly young professional tenants.

The properties must be professional managed as in any event the rules are violated the tax credits become worthless, so it's a very tough business to break into.

Seek professional advice from an attorney to form my LLC based on my business plan. 3.

Why not just hire a professional and focus what you should which is MARKETING and REAL ESTATE INVESTING.Hope that helps!