With the growth mindset you clearly have, you're building a solid foundation for success.

We had success in summerlin with insurance company paying .. over a 24 month period we had 3 tenants   fair market rent at the time was about 2200 or so non furnished.. we got 4100.00I did not like the turnover so I put it up as furnished rental and got 3500 and its going into its second year with a superb tenant. so seems like a happy medium for us.. 

If you can come in and operate effectively I think you'll find success rather quickly due to that.BTW - for a property management platform I would highly recommend Buildium.

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

Most of our out of state investors in Pittsburgh find success depending on their expectations.

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.

The better your can run and manage that business the successful you will be.

I will keep this front of mind going into future conversations and negotiations though incase it raises other red flags!

Try to get as many units in the building as you can.To Your Success!

I'd love to hear your feedback on success or struggles and anything I should expect.