Inversely, if I love City Y, you bet I want to invest there, and spend time checking in on my property and enjoying and learning about the city I have money in.  

I would be willing to bet the majority of those who are very successful on BP all live in modest homes with a lot of equity, and drive modest cars most probably paid cash, that they can easily afford. 

I still think that staying local is a better bet for all the reasons previously mentioned, but if you ultimately disagree and invest out of state it is a better model IMO.

It's a safe bet with little risk (minimal rehab).

Thank you both for taking the time on replying to my post, I will definitively get the book that you suggested and get deeper into the rehab stuff, I bet is not that easy but after doing it the first time Im sure I will learn a lot!

And the internet helps too. 

Would contacting an agent be the best bet for this?

I find rehab properties are a better bet though.

I bet you are in this for ~$15k range when all said and done.  

I bet more than a few times stock investors had wished that they could force the value of their stocks to go up :) The downside is that forced appreciation takes work, so you have to factor to what extent your returns are from your labor vs from the investment.