Also, you will likely be unable to attract high quality tenants to this property. 

Im looking for an area within 2 hours that has a decent economy and the pricing is attractive enough to make good returns. 

You need a B+/A- property in a good school district/attractive location at a lower than market price.  

It was a short sale at a very attractive price and allowed us to get into real estate investing (outside our AirBnB unit and house hack) for under $20,000 cash out of pocket in 2017.

Doing rehab one unit at a time will be hard; if you are trying to attract better, higher paying tenant they may not want to rub elbows with your current tenants.

Renters may attract low quality people into the neighborhoods and then property values start dropping.

I think there’s money to be made but I also think you need to know the market for it and how to attract new people to it.  

You raise a good point and I'll keep that in mind.I was attracted to Vegas because it's close to SoCal but significantly cheaper and more landlord-friendly.I've been finding it very difficult to find SFRs that will cash-flow in Vegas after mortgage and expenses (haven't looked for too long), so I'm going to start looking at other places around the country.Thanks,

I don't know of a market where those rents would attract even low income working folks.I would not be a buyer.If I was the manager or the maintenance guy I'd want a Rottweiler with one of those collars with all the spikes and I'd open carry.

And if you have an attractive deal should you receive investments from foreign investors?