I understand OOS investing comes with a variety of different challenges.I would assume the first step is to decide on a market.What are the key factors you look for when deciding on a market out of state?

I know that it is possible to purchase real estate using a self directed 401k using a variety of strategies, either purchasing in full or partnering with “yourself” outside of the 401k to purchase the property.

Nobody ever admits unforced to doing very bad things, and very bad things very often lie at the dark heart of many varieties of success.

dummy REI buys a negative cash flowing buy and hold rental property either because they had no clue how to run a buy and hold analysis or they thought it was OK to buy a negative cash flower due to the fact their exit strategy was going to be sell in 1-2 years.  

I concentrate my endeavors in markets where land can be purchased inexpensively, allowing a variety of strategies.  

Stability of employment, variety of industry, low purchase to rent ratio, etc....

Alternatively, there are much more attractive drop ceilings available than the old school "office" variety.

A true private lender tends to be very flexible, so there are a variety of ways this could work. 

I kind of want to have a goal in mind when I go so I'm not just a wall flower.

I agree completely that being PREPARED is the most important overall though.I have been meeting with potential Private Investors/Partners (they bring the money, I bring the deal and PM) with a WIDE variety of 'styles and wealth'..... meaning plumbers, engineers, retired farmers and entrepreneurs with networth in the 8 digit range.