I have a window into the PRE REOs coming to me, and lately, that list is getting LONG.

Without sharing greater detail of your proposed investment, no one can offer anything of value in terms of what types of returns they would want to see to compensate for that risk.

Does it make a difference for privacy (in terms of public records, so disregarding lawsuits)?

What if they change the terms on you last minute?

Then once it's acquired and/or fixed up you could shop around for long term financing if planning on holding the property rather than flipping it. 

They see a renewal of the current business tax rates, regulation and permitting rules getting slashed, tax code being simplified, and federal deficits on a one-way ticket down the elevator (which are a longterm drag on economic productivity).Just look at the growth in tax code complexity over the last 20 years.

The result is typically less loan proceeds, lower rate, worse terms, etc.

I have read the book on long distance investing and still am not too confident to get started.

You’d need to check the local laws to see what counts.Tenant Violations: If they’re breaking lease terms—like not paying rent or subletting—you might have grounds to evict.

I'd make sure it would do well with long term in case you get sick of mid term and want to convert it to long term.