I've got two parcels  (.37 of an acre total) centrally located in the pedestrian area of a small but growing town in Southern Oregon. 

I am just waiting to get the room built for placement and they will come back and move the location of it from under the house.  

Assuming you don't care about location... they're in KC metro (on the outskirts).

One of the reasons Memphis is a perennial market for investors is the availability of properties that are not in the "bad areas" and they can cashflow very well.As an OOS investor, I'd suggest that you start with the location as your 1st priority.

I haven't done extensive target area research yet, but I'm currently located in Monmouth county and was hoping to get starting in the North/Central Jersey region.

Care to share where your out of state investments will be located? 

I had to get rid of my first PM in CLT wasn't a good fit but once you know what to look for it gets easier..Best of luck in your journey...Great advice, when you say easy access to location of the property, what are your guidelines?

If the location is bad, maybe cut your losses.

Looking to do low down payment that will affect cashflow because my family and I will live in the house for the first couple of years and want to live in a more desirable location/home.Thoughts?

How hard would it be to replace the location and rent they are currently paying with another comparable unit?