these deals need to be done between principals and without advertising them... like you said that's were these folks get hung up.. they tie up a property have no place to go with it stick it for sale on craigs list and whammo  selling RE without a license... :)

Stick with ARV and the price the seller is willing to accept.Hope that helps.

I want to take action and not sit on the sidelines, but I also hear that you need to find your niche and stick to it.

Depending on how tight your market is, you may be able to slightly break the 70% Rule because it's nothing set in stone - just a good measuring stick. 

Would you recommend I consider that as a newbie, or really try to stick locally for my first investment?

The best landlords are FAIR and stick to a lease that protects both the tenants, and owners.Don't let tenants walk all over you, and don't walk all over your tenants.Charging market rent is the fair thing to do.

Stick to your lease.

Don't feel obligated to stick to the first rent you advertised.

Stick with it.Kyle Cluff

Point is, stick to where you can keep a team and do good management.