With serious study and effort and some investment we followed the Vestright training program and tweaked what we needed to adapt to our local market conditions and achieved successful results.

More than 5 days late (or whatever your local laws consider late), give them notice. 

I purchase the land from a local jeweler who I tracked down at his business and asked he was interested in selling.

I figured the PM would definitely be local to the area of the property and would need different PM's for each area, those were just the areas I'd like to invest in. 

My name is Wes and I live about an hour north of Toronto, Ontario, Canada.Looking to get into real-estate investing with long term rentals, BRRR, and House hacking.Currently looking to also find other other local people to chat to about real-estate and how to get started in our currently price inflated Ontario market.Let me know if you're in my area!!

Real estate is so localized that most federal based policy changes don't have massive influence.I can see him (semi-)privatizing Freddie/Fannie.

The rent-to-price ratios in many neighborhoods are strong, and the city’s population is finally growing again after decades of decline.One thing that stands out to me is Detroit’s median home price—around $95k—which is far below comparable cities of its size in terms of population.

Hi Jerrell,  The best option for trying to get a HELOC on a property would be to check with local credit unions. 

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.

However, especially if the investor is buying in an area they are not familiar with, they probably will not know the nuances of the local area.