Also, I was just there and the one thing you must keep in mind our you flipping to resell in the Puerto Rico population or to the population in the US? 

Depends what number they had in mind and how close they were to it.

If you don't mind me asking, what are the systems you have in place to mitigate some of the risk of investing out of state?

Would you mind elaborating a little on the infrastructure you have in place for managing tenants, and what kind of unique things you're seeing for maintenance?

What do you have in mind for an investment style?

@Marvin McTaw do you mind sharing the letter you send to these prospects?

Negative - prime plus 1.5% is much higher than what I am used to getting for clients.Prime plus 1.5% might be a deal breaker in my mind. 

To get into a little more detail on what I'm looking for: B- area or betterWithin 45 minutes of MSP airportAreas with a small town/ neighborhood feel are a big plusTown centers that could be in walking distance are a bigger plusAreas with above average school districts are another plus3-4 unit multi family property (small yard and garage are requirements)Potential for value add - completely OK with doing a live-in remodelWith that in mind, can anyone suggest a few areas worth exploring this weekend?

I'm looking at $100k profits, and in my mind, that makes it totally worth it to avoid paying those taxes.

To get an edge you will need to develop relationships with brokers and lenders to ensure that you are first on their mind when they come across a deal that fits your criteria.