When you build a good relationship with a good turn key provider, they can help you find the best deal and best vendors to work on that deal.

The sooner you start these conversations, the better prepared you'll be when the right deal comes along.Local professionals can also be an invaluable resource.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

Networking with the professionals in your market will start to open doors and opportunities to collaborate will arise! 

That makes your bookkeeping easier, and it can also provide liability protection if you hold title in an LLC.

Hi Andrae, the simplest and most risk-averse way to get started investing outside of your local area would be to contact TurnKey providers in the markets you are most interested.

Their pro formas felt optimistic with providing 6% annual appreciation and property management that is only about 6% of rent so I take it with a grain of salt (they offer their own property management services but it has terrible reviews on Yelp so I would probably go with someone else). 

but they don't provide current rent, value, what they have capital wise, etc. 

Most cost segregation firms will provide a free cost/benefit analysis quote to help you determine if the tax benefits from the study will outweigh the costs.

Denton County offers opportunities in suburban and college town markets, while Grayson County provides affordable entry points with cash-flow potential.