@Harrison Blaufuss, here are my suggestions:1 Do online research on the city.  

(Utilities were rounded up on my part)The asking price is $115K (in a very small town, but the biggest town within a 50 mile radius).Monthly Rent                                          280010% Vacancy                                        -    280Gross Monthly Operating Income     252010% Property Management                   28010% Repairs Maintenance                      28010% CapEx Reserves                                280Property Taxes                                          280Property Insurance                                   200Heat                                                             270Electricity                                                    225Water                                                             75Monthly Operating Expenses              1890   Total Annual Operating Income           30240 Total Annual Operating Expenses     - 22680Annual Net Operating Income             7560Purchase Price                                    115000Cap Rate                                                6.57%25% Down Payment on Loan             28750Loan Amount                                        86250Closing Costs                                             300Length of Mortgage                             20 yrsAnnual Interest Rate                              5.0%Total Annual Debt Service                  6831Annual Cash Flow                                    729Monthly Cash Flow                                  $60Cash on Cash ROI                                   2.3%When I first saw a "6 unit apartment for only $115K" I thought it was a gold mine.

I'd suggest researching who the top local employers are.

Hey Everyone,So I've been tediously drafting up my real estate business plan and have been doing numerous research on my particular strategy.

I recently started researching buying notes, and I’m totally hooked!

Deduct an appropriate amount from what you think it will return.All that said, if you have plenty of other investments to make you comfortable and you are simply intrigued with owning a large manufacturing facility in Wisconsin I say do as much research as possible and then go for it.

After researching ways of generating passive income i stumbled upon the amazing Bigger Pockets podcast, which brought me here. 

This creates 2 chains of title to research... one for the fee and one for the leasehold.

Also, do you hear of a city or an area on podcasts or from other investors and research it or how do you hear about out of state areas to potentially invest in? 

Try researching agents on Zillow and check for reviews.