What is the difference between local and out-of-state investing?

[Zach Simpson]

If I hire a management company and want to be very hands off, what challenges does having property out of state present that investing locally does not?

[Cody Barna]

@Zach Simpson I would say the biggest issue is not being able to drive by and visit the property every now and then. That becomes much more challenging when it requires significant travel, you're putting a lot of trust in the team you hire when you give them 100% of the responsibility. Personally I would find it hard to believe that a PM is screening tenants at the same level I would be. If you're new to investing it's extremely helpful to learn the process first hand, not to mention you're typically less familiar with the local laws, market and economic conditions.