Here are some things that may help getting started:Do some research in the market you plan to gather contracts in (Driving for $$$, skip tracing, Redfin fixer-uppers)Source a pool of cash buyers.

Purchase price: $500,000 Cash invested: $100,000 Seller financed barrier island pool house, used as short term rental.

Because what we are really talking about here is a math problem that at the end should end in a positive number ($) that only YOU know to be enough for each deal you do, the model you want to follow and the type of investor you want to be or can be based on your goals.Hedge Funds buying most of the properties at auction are successful doing that because most buy to hold based on projections that a particular location will see increase on property value so in order to out bid competition they pay 10-5% or even market value for properties ...but their model works because of gains through rentals, increase on value or just waiting for the right buyer who wants to pay JUST above market value ...having 25-50 million a year gaining 10% return is not too shabby...but thats their model smaller margins on volume.Typicaly Lenders in the other hand are in here "outside their business model" they want to minimize losses or liquidate the collateral so the money can go back to the pool again as quick as possible...very few if any have a "rehab department " with contractors ready to start work on a newly property acquired at auction... it doesn't make sense because their business is lending for investors who want to see that % gain every month so the money not gaining interest is a "cost" added to the time and $ spend to rehab or wait to sell ...Someone like you will spend the time and $ to rehab in order to sell at top $ but need bigger margins and a quicker turnaround than the hedgfunds so to compete don't restrict your area.Become a pro on your investment strategy and learn your due diligence so you can repeat the process over and over.To start these numbers are paramount to know;1.

Besides the classic ( high growth , good employment , sunny weather environment ) factors everyone says to look for

Upstate doesn’t have a large pool of contractors , compared to an area like NYC where I am from .

All good for a pool of working tenants.

Maybe the community or group of investors et al. can pool together and buy the property from the city,  fix it up, and least it back to the city.

However, property #2 would pull in more over the long-term (the location has rents 18% higher than area averages) and has a bigger pool of renters looking for housing.

Unique properties limit your rental pool.

This can be as simple as an increase in monthly fees to cover someone's pet project (let's add a pool!)