On the other hand the further out you go, the less likely is your property to appreciate and the less likely is your rent to rise and harder to rent.I personally like to invest close to where i live and where i work because i know those areas pretty well and i don't want to be driving 2 hours to check on the properties.It also depends how much you want to be involved.

I for one wouldn't want to drive an hour just to let a tenant in, or to fix a toilet, mow the lawn, etc.

Originally posted by @Chris Connolly:I believe you are able to do the repairs yourself, if you're hiring someone, they might have to be certified (or that's only when you KNOW that there's lead paint, ie having it tested or it show up in the disclosure) "The law requires contractors to get certified in lead-safe work practices if their work disturbs more than 6 square feet of paint on the interior or a 20-square-foot section on the exterior of a home built before 1978." 

From there you could target the list with direct mail, you could skip trace the list and call the owners directly or you could drive around looking for the ones with the most visible distress to go talk the owners directly.Or you could partner with someone willing to do all this leg-work to help you find what you are looking for.Best of luck in investing!

You don’t say if it’s 13 min walk or drive?  

Since you think the CapEx, vacancy, repair will be more then multiple the $1800 by a higher percentage to be safe.

So I dove into this head first, started driving for dollars in my neighborhood and neighboring areas and found 10+ potential homes got numbers off Whitepages and called everyone.

3) Which areas of town are safe and unsafe to market to and look to buy property?

He paid me $300 for the car and within a week his shop employee was driving it.

I had a few decent responses, but no one truly motivated and of course a few that were angry or just hung the phone up. lol I've also been Driving for dollars, and I found a few houses I just can't get in contact with some of the owners.