Having physical offices is definitely an advantage, but honestly it is probably personal preference and what works best for you as an individual.

I'd prefer to stay within two hours of home or places with close friends or family: Atlanta, Chattanooga, Omaha, or Washington, D.C.  

The types of investments and niches are incredible.

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

Whether you want to pay off the mortgage or keep additional debt is a personal preference.

My niche is finding deteriorated properties and using my capabilities to renovate them and build equity.

I would look for fixed interest under 10% but preferably under 6% and a purchase price no more than similar houses in the neighborhood on the MLS (you could look on zillow or realtor at properties nearby similar size/condition).  

However Most of my investor clients prefer an area that is A-more lucrative for all of us and B- on the other side of town.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.

We live in Keller and would prefer someone who has a network in the North FortWorth area but we are flexible.