Investors and rehabbing properties in this area is key to getting the money. 

That said, taking action on a well vetted plan is key as well.

A few key questions you need to answer before going into detail:- What type of return are you looking for (cash flow or long term capital gain, or a mix of both)- What is your budget (cash versus financing).

Thanks guys...Dawn Anastasi, I've offered the cash for keys with no luck so far (out of curiosity, what amount do you typically offer or does it change depending on the circumstances?).

I think the key to being profitable in a low rent/high value area is to have a long holding period. 

I just noticed you claim to be a turn key provider.  

The key is not spending it elsewhere which most people can't do.

there will be many that live in each state.... turn key generally produce's a few of your trigger items not necessarily all of them though in one house.great houses and tenants usually equates to a smaller NET return... as your return goes up your sacrificing something.Unless of course you go the state your self source your deal do your own rehab and etc then those metrics are not to difficult.

Being conservative is probably key seeing as you're not here and there are so many unknowns to deal with (you're probably not going to want to do anything opportunistic where you meed value add straight away unless you have a strong personal connection to a contractor here - we can probably help there, but obviously that's your call).

I would be willing to pay them to leave also in a cash for keys scenario.