My experience tells me if you project negative cash flow it’s not such an attractive deal and you might be overpaying, unless it’s more of a value play for long term appreciation.

The building is a majestic high-profile building about 30 minutes north of Portsmouth, NH and we see a great mixed-use community that will pull people from places like Dover, Somersworth, Rochester, the Maine Seacoast communities (Eliot, York, Kittery, Berwick, etc.), and all of the Lake Winnipesaukee communities, with artist lofts and commercial space for a restaurant or brew pub in an unsaturated market. 

However if you are determined to go out of state the main thing you (or anyone) considering investing out of state (especially as a novice or beginner) is that it's not really that complicated to buy out of state.

I agree with talking to an attorney and CPA, but right now I am mainly thinking from a philosophical point of view. 

This is my main motivation to move markets.

Above market rents may be achieved by tricking out a unit to the 9s and attracting a tennat with more money than brains.Charging under market diminishes the value of your property and attracts lower quality applicants.

I ran to google after listening to the speaker and have been researching the pros and cons of wholesaling but mainly run into people doing it outside of my local community.

The two main things that blew our budget out of the water was the AC unit and the fence.

I totally agree with you on the HOA's, it's definitely one of our main concerns!

I can get away with that in Maine but buyers are essentially forced to in Mass.