What is driving your market selection?  

While living in high cost cities has its own advantages, one of the disadvantages is the high investment cost it takes to enter into real estate investing.

I think the worries about whether California's statutory rejection of Section 469(c)(7) also means California will selectively reject other bits and bobs of the regulations for 469 are unfounded.

Cold belt can work in some instances but have to be much more selective on locations.

The problem is, I’m not sure what to look for in a good property manager, or how to make sure I’m not getting taken advantage of.

Highly recommend self-managing so you can take advantage of a cost segregation and the short term rental loop hole!

When I say carefully selected, I mean, I evaluate at least 100 or 200 deals before I invest in a single offering. 

Each of those should know each other in a market as well.One thing to be aware as an out of state investor is that there are unfortunately people out there to take advantage.

I do understand being selective on the type of buisness you take, but as an agent we still have a fiduciary duty to our clients to make sure they receive the level of service this price requires. 

There must be some mechanism for selecting a president or for making decisions.