In the late 1990's I worked with AMREP selling their new homes to rental investors, mostly out of state buyers using AMREP's lot trade program. They never had any trouble renting as long as they stayed within the market rent wise.
Over the past several years the rental market has improved here, like just about everywhere, due to the damage done by the mortgage crisis. Over the past five or six years lots of people have lost their homes to foreclosure or had to short sale and most will need to rent for years before they can consider buying ab home again. The increased demand has helped improve rents.
The main thing you want to do is just evaluate any property you are considering carefully before buying. You want to know what it'll rent for, what are you expenses, what's your cash flow, will it need repairs.
If you are interested I'd gladly talk to about it more. No obligation, just a cahnce to have some of your questions answered.