It can totally be done, even in this market.

I think that areas on the outskirts of desirable cities where many people are moving (ie: Charleston) have great long term potential, as eventually people start to rent right outside the downtown area when prices rise. 

If you want a registered agent, there are services offering that starting at $40.

You should have already started the eviction process!

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

I'd feel comfortable investing ~$50k to start off.

If you ever want to connect, I'd be happy to do so and be of any assistance in getting you started on your future. 

Start looking for a new PM.

Especially anywhere in California, and particularly Los Angeles county.Talk to longtime neighbors who might know story and whereabouts of owner, but don’t accept as fact.I’d start with researching who the record owner is.

I will add that you definitely do not need to be near your investments, but it makes things a lot easier when you first start off.