It sounds like I need to find the rock star brokerages that have room available for out of state agents.

Depending on where your properties are in Killeen/Copperas Cove they may not manage (for obvious reasons) but if they are an option I'd highly recommend Richard.I have also had conversations in the past with Herman at Real Star Property Management.

They are popular in the DFW area: http://www.wehnermultifamily.com/I agree with @Ben Leybovich that it will be hard to get 5 star service on a 3 start budget so to speak.Ryan had some great insights during the presentation on how it is a human business so you will need to manage expectations sometimes and work through the issues. 

In NY, with "star exemption", I get to pay a lower real estate tax passed 65, and a even lower rate below a certain income.

No one has complained yet and all 5-star reviews.

I have various "collectible" items that probably won't amount to much including a complete copy of the Stars and Stripes newspaper released the day WWII ended.Cash - I am always building up a reserve of cash.  

Just keep in mind to build in a buffer for those vacancies where you are waiting for the semester turn around.Also, don't shoot for the stars on your rent prices when you first start out.

I have gone to two seminars from TV flipping stars out here in Southern California and can warn you that they are nothing more than an entertaining show and high pressure sales pitch to get you to buy their full plan (which others that go through it rate very poorly).  

So when you see the movie stars and big time sports celebs flying form new York to LA in their G 4 they spent a cool 100k one way or tad more. 

One of my driving forces that pushed me into real estate was that i was tired of working on other people's race cars and scrounging together cash to race on weekends i wasn't working.Spent 6 years working for professional race teams on ferraris and Star mazda Open wheelers.