They can just be too hard to lease.On the other hand, if the area is doing well economically and its occupancy is currently strong (I certainly want a vacant or near vacant property) I think it's worth considering at least.

Or you could try negotiating hard with the seller—point out the comps and the condition of the property.

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

Also, if you buy using a hard money lender or cash, Zach Starnes can do re-fi's off the appraised value shorter than the typical 6mos and then you might not need any money down if you buy at the right price.

This is on hard mode.

Hardly anyone can prep properly, mask or dropcloth properly, cut in around trim and windows, get even coverage, etc. 

Worried about saturation, thinking about going hard on the themes to appeal to visiting families.

I know i learned this the hard way.

Staff worked hard to balance the needs and desires of all study participants and develop regulations that are simple, sensible, and enforceable."

Quote from @Frank Pyle: My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental.