People are now locating their properties and trying to find people to manage or even if they have tenants, who is paying, who is not and finding the homes to be in sub par condition.

But the property could be an incredible deal and also would be a very special property do to its location and potential to be brought back to life. 

So for a Qualified intermediary, I see that you are, does location/state matter?

Based on a gut check (checking the town population + location on google maps), this may be the case. 

Any suggestions would help please Colorado Springs has some weird regulations about this depending on which county it's located in so be sure to check in with the planning department in the specific county you're looking at.

I am located in Boston, MA and may be interested in including my furnished unit.Thank you,Jesus 

In my experience, it depends on which part of NE you are located.

I am debating using my local lawyer vs. finding a lawyer in the state where the property is located.

Where are you located?

Oftentimes the "immediate and highest return" evaporates once you get into it and start dealing with various issues that weren't addressed upfront or due to location (harder to fix). 100% agree with you!