Out of state investors can do really well here, but you can also lose a decent chunk of money if you buy wrong.Lots of out of state investors, especially those from California get a little blindsided because everything here is so cheap it all looks like a guaranteed great deal.

Like someone else said better to buy land that is already suited for use. 

Investment Info:Single-family residence buy & hold investment.

So far, I’ve closed two deals, and both required some creative structuring to make them work.One of the biggest lessons I’ve learned is that real estate isn’t just about buying and selling—it’s about solving problems.

I stopped buying because the market became too expensive and competitive in my area at the time. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

@Shannon Leckinger what would be your goal with the STR that you want to buy? 

If you are looking for a more active solution you could buy a turnkey STR.  

For a while, a truly irresponsible group of new investors were joining the forums, thinking they should pursue extremely dangerous strategies that put themselves and the people they were buying from at risk. 

If prices ever cool I will buy another with a DSCR loan no doubt.