We need to find a good app/website for them to send rent as well, preferably one that has many things built into it, making it more simple to manage things in one place.

The key to investing out of state is finding a good property manager.  

.🚀 Making It Work1️⃣ Optimize Your Space – Converting a living room or office into an extra bedroom can supercharge returns.2️⃣ Target the Right Tenants – Young professionals, digital nomads, and students love co-living setups.3️⃣ Automate the Management – Using systems for roommate screening, lease agreements, and shared expenses makes it passive.Co-living is gaining serious traction in house hacking circles, and I’d love to hear from others who are using this model.

@Tayvion Payton I have managed many properties in neighborhoods like this.

.- I would highly suggest you plan on using a property management company.

@Landon Sheveland  don't think your renovations will overcome a bad location. 

You can structure it as an LLC or joint venture, which offers clearer tax and liability benefits.Your son doesn’t need to be on the loan or title if he's a silent partner, and you can manage the mortgage, credit, and insurance.

Also do research on what's required to properly manage a LLC so the veil cannot be pierced. 

The manager doesn't determine what they do and don't like, they 'manage' the HOA to comply with the law and guidance from the Board.

I’m an investor with properties in both Indianapolis and Kokomo, as well as the owner of a property management company overseeing numerous units in Indianapolis for out-of-state investors.