Solving problems with long-distance investing

[Amit Dhawan]

Hi Everyone, 

What are your thoughs on long distance investing - specifically what would you see as the biggest risks. For example, how important is having local eyes and ears on the ground before signnig the contract (commercial or residential) so you have a clear visual understandng of the site as well as the neighborhood. A lot of time google-map images are not recent. How about talking to local real estate agents to get first hand undertsanding of the area. I'm an investor here in Texas but would like to venture out. I'm also a programmer and as a part of addressing my concens with long distance investing, I'm looking to develop a portal/tool that can help other long distance investors as well. Your thoughts are highly appreciated.

Thanks.