Jon - Krav Maga is great.I still enjoy the martial arts but I have always leaned toward practical self defense aspects versus tournament sparring.I put more value in not being dead on the streets versus point sparring and getting a trophy.

It may be more practical to use the 5% conventional loan product. 

This is to train your tenants that late payments are not acceptable practice.

Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time. 

I think it's good practice to prepare the owner for potential capital replacements.

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

I thought the seller and buyers broker split the commission.It is a new way of framing the agency relationship as of 1/1/24 due to the changes happening nationwide.In practice, most sellers are still paying buyer agent commissions as it is a good business decision to do so. 

What law do you practice?

They seem to rarely offer practical advice and drive investors away. 

Best practice is to keep security money in another account separate from your day to day transactions (mortgage, rental income, utilities, and etc).