Investing out of state brings additional risk but the rewards are also much better.

Lots of positive activity downtown, however we just do not have the charm/pull of a place like KC, OKC etc so I think there will be somewhat of a ceiling to where it goes in the next few years, but one thing I do like is that if you go down there on a nice day/evenings or early at night, there is significantly more foot traffic and activity than there was a few years ago, so you can see the effects of more folks living in/using the area.  

I'll echo that most of these Midwest markets that skew toward lower purchase prices are similar.Areas can be hit-or-miss and you need to really understand the risks and potential rewards before making the plunge.

And as long as no-one leaves, at no additional expense.In general I like the idea of rewarding long term tenants for staying by keeping their rent under market.

It becomes hyper-local.Also, I think far too many investors don't fully grasp the concept of risk vs. reward when it comes to investment property.

Cons: At the age of 30 (I'll be turning that myself this year) you are young and there aren't many dependents you need to take care of so I think a higher risk/ higher reward model suits your investment time horizons better.

It can be done though, but the guys I see doing it are agents themselves, they are always on mls, their buyers list are on point, and the reward outweighs the risk to them.

What is your risk reward on this specific deal?

This keeps you closely involved with the property while ensuring it meets the needs of your tenants.Many investors have adopted this strategy and found it to be rewarding.

This behavior is worth rewarding with some modest sign of seasonal appreciation.