Rehabbing from afar is a recipe for disaster in my opinionWe sometimes still loose our A$$ to this day and our office is within a 5 min drive of most of our properties Just had someone "pinch" $32,000 from us not long agoFirst time we filed a report and a civil suitUsually we just "dismiss it" as the cost of doing businessThus far that cost has creeped into the high 6 figure range over the years lolJust my opinion off coursewhen that book came out on BP and the guy had all these out of state people wooped up on it I just cringed I love BP but sometimes these things sound great in theory but are highly risky and especially remote rehab we all have been taken by contractors and like you said even if your there 5 minutes away.. but when you 5 states away the risk / reward to save 10k on a deal just seems foolish to me. 

If someone can wait until the next downturn, even if it's 24 months away, they will be rewarded greatly for their patience.

Always view every investment as a risk vs reward scenario. 

They lodge a complaint about any little thing & are rewarded with a monetary item, typically a comped meal or gift card.

With great risk comes greater reward.

Exactly, more risk than reward but I can definitely see why they are pushing it so hard.

Over the last couple of years I have graduated from passive mortgage investing / private lending to being a passive money partner in flips to now running my own active flips.  My flips are generally 3 to 4 hours away ...

I learned the risks and rewards of property ownership, and how advantageous it is to be within a mile radius of a Home Depot branch.

To me, the deal with a potential for a 40%+ IRR would have to have a much larger downside potential compared to the first, otherwise the risk reward profile doesn't make much sense.

Personally I have never liked the high risk/low cash flow of SFHs so not really my thing.SFH rentals will have a tougher go but if major part of your play is appreciation as opposed to cash flow now is the time to reap the rewards.