When buyers see this they automatically feel the work was done professionally.I will either be present or have a PM present at the home inspection for my sales that have a builder warranty component.

Ask for seller concessions to cut down closing costs.

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.

Some have done owner financing with an agreement to pay all interest and equity splits when the home sells others have done it where they do a quitclaim adding their name onto title with the seller so once rehab is done the seller can't try and cut you out of the deal. 

Just personally, I would never do an absentee landlord kinda thing....Too many moving parts, too much to go wrong and cuts into your profit big-time....Sentimental value is one thing, but not if you end up hating the house down the road.....Stay local, plenty of opportunities in good ole AZ.....

Can you DIY projects and cost cuts? 

Cut out expensive stuff you do not need but just want.Try to get that monthly amount needed to survive to a nominal amount.3.

A HELOC comes with a variable interest rate and all signs are pointing to no further Fed rate cuts in 2025 - and there may even be rate increases.- So, you may want to consider locking in an interest rate via a 2nd mortgage.Do you have reserves for unexpected expenses?

That pragmatism will help you mitigate risks as you understand the different components of managing rentals   

On average, we see rates eventually drop to around 37% lower than where they started at the 1st cut by the end of the rate cut cycle.