There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

Always consult with a qualified tax professional before making any tax-related decisions.Depreciation losses will have no effect on your financing options. 

We do have a property management company and even with our experience with LTR's, just no way we could effectively manage this home without local property management. 

There’s no specific law mandating general liability insurance, but it’s a smart move to have it.

You can't even get an officer to a traffic accident anymore and how many domestic violence situations happen with little to no attention.  

This baffles me.... how can you do NO screening?

No offense, but hire a PMC because:1) You hate the process of placing tenants.2) You didn't do a very good job of screening the current ones.Sometimes we have to get out of our own way to find success!

No thanks!   

Yes and no.

You're no longer responsible for the loan payments and no longer entitled to the deduction.