Learn how to to screen and select a quality property manager that won't cheat you or mismanage your property (they do exist).

Poor condition or bad location and therefore not marketable to quality and respectful tenants? 

Regarding investing remotely:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

That 1990-2000s home might be reaching the last leg of all it's cap ex items.Lastly, in HCOL cities, house hacking may give you the opportunity to live in an area to enhance your quality of life.

I've been ruminating over the low rate environment recently and whether to refi one or more of my long-term rentals, but I just struggled visualizing the full gamut of financial impacts, e.g. loan cost inefficiency, 30yrs vs 15yrs mortgages, maximizing cash flows vs cash-outs, tax positions, etc.

News & World Report's 2023 rankings, it's highly sought after for its quality of life and booming job market. 1 This popularity could mean great things for your rental property's demand!

I don't know anything beyond that though regarding the quality of how it's conveyed. 

Recommend you connect & communicate with @Russell Brazil who knows a bit about the Baltimore market.In the meantime, read below about how nightmares often occur:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

@Sanil Subhash Chandra BoseRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

There are some solid advantages here: new construction typically means lower maintenance costs upfront, modern amenities that attract quality tenants, and potentially higher rental income.