I recommend Long Distance Real Estate Investing by David GreeneResearch - Pick a few markets that you are comfortable with, then do your own due diligence - look at things like, population growth, unemployment rates and economic outlook.

While SFH are 2-4 unit MFH are great for some folks, it sounds like most folks end up migrating to larger MFH deals once they're more comfortable and able to do that.

Ive stayed away from the NE to avoid the Snow & Cold weather (there are other factors as well), one less thing for me to manage..Everyone has difference comfort levels, I understand wanting to be 2 hour driving distance from your property but for me taking a 2 hour flight to SE is an expense Im willing to do to be in my desire market.

The ones who have made a trip here to meet me, explore the areas of interest, meet property managers, and get a feel for the 'lay of the land' are far more comfortable pulling the trigger on making an offer when the perfect deal comes up days after they made it back home. 

@Kulin Dakwala thank you, that’s comforting.

Cashflow is a great but if you don't necessarily need it currently to live and feel comfortable with reserves I would try to find another property.  

Its all good now and I am comfortable with the 600, plus I was able to get 5 applicants that are over my required numbers.

Some items such as your risk exposure, comfort with risk, wealth may play a role if you get an LLC or not.

Due your due diligence and if you are comfortable with the numbers, go for it.

@Andy ThramerAre you comfortable working with your CPA remotely?