Chicago Multifamily out of state, general suggestions

[Sanjoy V.]

I have been looking for sometime to buy multifamily/apartments 20-100 range. Live in Texas but market to hot for cash flow. Can’t rely on appreciation alone and buy at 5 caps. Out of desperation even looking at Chicago; the cash flow seems tempting in the 9-10 range. Obviously areas like Gresham, guess very high crime and can’t even walk to see property you own. Is it unrealistic to think that you will have Mgmt run the apartments and you just take the cash flow; and have nothing to do with it? what are owner liabilities truly? Can you run it remote? Have it completely inspected evaluated and run by third party management? It seems foolish to do something like this but where else can I get cash Flow; I understand appreciation is probably good no to be limited to none. May be use the cash to buy in tough markets? Is there anyway to safely remotely run the law Apt’s?