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.

Look forward to seeing your future progress.

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!

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.

Also awesome automation capacity.Basecamp is my preferred tool when working with Buyers and I want them to interact, see progress, etc on the various things we're doing.