To mitigate the obstacles of investing out of state I would recommend getting a good project manager.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

If you have proper systems and practices in place and do a reasonable job at tenant screening, the risks can easily be mitigated and there are actually several benefits.

Many homes throughout the US are priced at or near your condo's price, you may be surprised how easy it is to find financing (subject to your credit profile and other mitigating factors)

An investment with an experienced sponsor can mitigate some risks because you are participating in a larger acquisition than you might be able or willing to do on your own (which gives economies of scale), and you get to leverage the sponsor’s experience, judgement, track record, network and deal flow.But it also adds risks by adding an additional component not present in direct real estate investing:  the investment sponsor.

I believe I have a pretty good idea of what I need to do and ways I could mitigate some of the risk.

If you can mitigate your losses by selling in the short term it may be the best option, particularly if you are speculating on appreciation or continued rent increases to turn a profit.

Will mitigate your risk and exponentially increase your RE knowledge growth.