From what I can tell the rents or accurate for the neighborhood which has a C crime rating and is in the Lawrence metropolitan school district (some schools getting 8 or 9 out of 10 scores).

Nashville-Davidson-Murfreesboro-Franklin, TN Birmingham and Cincinnati had the lowest median investment sales price at $70,000.Why Invest in Birmingham, ALAs the largest city in Alabama, Birmingham is also one of the biggest commercial banking centers in the country as well and home to numerous colleges such as University of Alabama, Samford University, Cumberland Law School, and Miles College. 

I see reference a lot to school grades on here, as in:  "It's a C town" or "C- area" etc.  

Contact local property managers and landlords for a recommendation.Interview CPA's -ask if they understand "carry back loses"1031 Exchangescomponent depreciationask how may landlords and investors they representwill they go to the IRS with you in the event of an audithow long in businesswhat organizations to they belongwhat designations do they haveAre they up on all the local or federal programs for investorsI have been with our CPA now for over 30 years - he also represented many of our members at the school and fellow investors.We have been audited 3 times in 5 years and have passed all of the IRS's allegations - yea for us!!

Contact local property managers and landlords for a recommendation.Interview CPA's -ask if they understand "carry back loses"1031 Exchangescomponent depreciationask how may landlords and investors they representwill they go to the IRS with you in the event of an audithow long in businesswhat organizations to they belongwhat designations do they haveAre they up on all the local or federal programs for investorsI have been with our CPA now for over 30 years - he also represented many of our members at the school and fellow investors.We have been audited 3 times in 5 years and have passed all of the IRS's allegations - yea for us!!

We were nervous about pulling the equity out of our home (old school in our thinking) now we can't wait to get started. 

@Jimmie Dickey I can only speak on what I've noticed, and that is that most of the properties in this area (especially in my neighborhood behind the high school) seem to be rapidly increasing in value.  

Additionally, I would likely be investing out of state so I'm sure if being licensed in NY would be as helpful to me.My question is: Do you have any suggestions of other career paths I can pursue (that will give me knowledge/experience that can be translated to real estate investing) with little to no more schooling necessary?

I'm worried if I go this route, a lease will magically appear with no one to vouch for the validity of it.

3 rented units at $950 won't cover that loan...Equity is not a magic bullet.