You can do this for well under a fraction of what the cost is. 

Does Hard Money typically cost 30-40% of the purchase price?? 

I am putting in a link to something that may be help, a cost of living comparison calculator (https://www.bankrate.com/real-estate/cost-of-living-calculat...). 

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Assuming your debt is SUPER cheap and only costs you 12% you’ll save $22,800 TAX FREE  So the combination is saving $60k at 12% (or more) is $7,200/yr and $130k in the bank at only 4.5% is another $5,850/yr  so you’re over $13k GUARANTEED instead of a chance to make $7,200 before taxes  

.✅ This avoids wasting time screening unqualified tenants.3) Before Lease Signing (Final Step)✅ Run the background check before approving the tenant, so you can verify:Credit history & income stability Eviction & rental historyCriminal background (if applicable in your state)Final ThoughtThe best time is after the showing but before lease approval—this ensures you’re only screening serious applicants while minimizing wasted time and costs.

A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

Less Desirable Areas: Are there neighborhoods we should avoid or areas where BRRRR might be less effective?

Quote from @Anthony Sigala: We are all aware of the 1% rule--the gross rent produced by a property must equal 1% of the of the property's acquisition cost.

.👉 Adjust your expectations—this business is about consistent effort, not overnight success.2️⃣ INACTION IS COSTING YOU DEALSEver stare at a lead and overanalyze every detail?