Best way to take action on out of town potential deal

[Leah Fisch]

hey everyone. I'm looking to make my first BRRR purchase.

Ive found a potential deal pending more advanced research. 

My target investment area of Rochester NY is ~6 hours driving distance. 

What is the best way to take preliminary action at a distance? I would drive up for the inspection and closing but don't want to find myself driving up and down every day. 

House listed for 115 in need of repairs. Hoping i can purchase for 105 and 15k repairs. 

Estimated cash flow is ~200 per month after accounting for

Mortgage

Tax

Insurance 

Repairs/maintenance 

Cap ex

Management 

Vacancy 

However without walking the property i feel like I'm guessing. 

Financing lined up. 

What do you think? 

[Christopher Schmidt]

I invest in Rochester from out of state (first Florida, now South Carolina).  I bought my first property while visiting which helped me to get to know the area, as @Barry Cohen suggests.  I visited as many properties as I could (probably about 13 properties under 50k) and ended up getting my second choice property.  Though my first one was turn-key, my PM was horrible, non-responsive, ripped me off, etc...and I almost soured from the market.  I found a new PM and was comfortable with my 2nd property sight unseen, which was mostly turn-key.  I've developed enough trust over the 3 years since my 2nd property that the end of last year I purchased a rehab that my PM managed the repairs (closing took until March, but I have a tenant in May 1) and will be closing on a similar property in 2 weeks.  I'll admit my nerves have been racked some with the rehab, but it looks like it turned out well.  Good luck with how you proceed!