We are sailors ourselves but availability always seems pretty limited (ie, lots of demand) when we look.

@Surendra Chawla and others, for the Phoenix metro area, I found a very useful resource called the Cromford Index.This is put together by ASU's Head of the Real Estate Dept (Prof Michael Orr).http://getyourphx.com/refresher-the-cromford-report/http://cromfordreport.com/index.htmlThis seems to be a very unique and highly useful index specific and limited only to Phoenix area.https://www.youtube.com/watch?

Hello, Would like to post a question for all the folks who invest out of state (or those who have had experience) -  Do you recommend any specific tools or resources to study trends and potential in that market?

This method leaves a lot of stress and unknown factors off the table and limits the pool of potential buyers to serious investors instead of dealing with the potential issues of individual buyers looking to buy a owner-occupied unit. 

The issue I run into here are limits on how many mortgages I can have in my name from various banks.  

Replacing side walks on a city property that is out side the city limits just added 2 weeks to the project. 

If this is a foreclosed property (you said Fannie Mae was the seller), your agent should know if your state has limits on back HOA dues if you're buying a foreclosed property.   

What’s the best advice you would give, I don’t know much about buying an investment property, I only been studying wholesaling. 

But California law limits the reasons for landlord entry. 

But you don't know if you are going to need engineering, architecture, land studies, impact studies, etc...