Sees a lot of off market stuff because he is a property manager as well.The toughest part about investing outside of your locality is finding boots on the ground that you can trust.

I also have a ton of property management experience and offer tenant placement.

It depends on the property.... is it value add where there's also a construction component or merely a management improvement opportunity?

We share best management practices, systems & tools, and our networks.

I'm barely competent managing rentals in my backyard in NC. 

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students What was the outcome?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

For example:How well does in-house counsel adapt to different jurisdictions, especially if we’re managing properties across multiple states?

@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

Do it very intentionally, not just for the sake of scaling up, but to get better quality or easier to manage properties that will replace lower quality or harder properties.