@Greg Yunov
Ive done both out of state, turnkey and fixer upper/BRRR.
My advice is to pick your team like your building a dream team NFL team. Your team will make you or break you. The key players are a Realtor, Property Manager, Inspector, Contractor and Bank.
Your realtor will have an in depth understanding of the market and can tell you more about home values, history and appreciation.
Your property management team will know rent prices, rent turn over, average time to get a tenant in the door, deal with background checks and monthly payments, ensure the house is maintained by the tennant and deal with any other surface level issues that may arise.
(Appartments.com is one of my favorite resources when developing a basic understanding of the rent market of where Im trying to invest.)
Private Inspections are a cheap investment and are another great resource on understanding if what you're buying is "lipstick on a pig" or a built to last investment.
Contractors are also vital to your operation. Having a trusted licensed contractor on call to take care of any maintenance/major repairs is key to the functionality of your property.
Different banks have different lending criteria and different processes to go through in order to secure a loan. Thats an in depth topic with lots of information on BP to help you determine what best fits your goals.
If you're open to investment ideas, BRRRR would be another great way to go. My first property was a turnkey and cashflows like a dream, but I do wish I went with the BRRRR method instead it would've taken my capital much further.
