Read my post to another new person, about calculating their risk of failure. 

I was going through their guidelines and noticed this line : "If Purchaser fails to perform under the Agreement,repudiates the Agreement or otherwise prevents the performancethereof by his own action (including failure to (1) providerequired documentation for any mortgage loan, or (2)because of any material willful overstatement of his cashor net worth in any mortgage application ), Sponsor may ,at its option, cancel the Agreement and retain up to 10%of the total purchase price, plus all monies paid foroptional extras installed , as liquidated damages."

You don't want to open yourself to a lawsuit for failure to disclose material information about the property.

Define failure.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Don't think in terms of success or failure. 

Don't think that one particular out of state market will shoot you to success or abject failure.

I have been doing tons of research but I'm looking for any real advice from success/failure stories and any additional information anyone can provide.

Learn from your failures...but remember to savor your successes!

Don't think that one particular out of state market will shoot you to success or abject failure.