They are too close for comfortable game play.

However, if you seem similar listings in your area and they're requiring tenants put utilities in their name, then you should feel more comfortable doing so.

Off market deals usually have nonrefundable deposits and a clunkier process that isn't as suited for out of state people until they have good contacts in the area to evaluate the property (mostly contractors that feel comfortable evaluating projects for you).

Quote from @Brendan Jones: For the homes, and or properties that you will use as a primary or a rental property one big thing I look for is infrastructure in the area, extrinsic value (I.e. hospitals in the area, schools, and job market), and the last thing is creature comforts for people (I.e. is a store to get groceries 1 hour away or 2 minutes away).

If so maybe research who financed those deals since they're likely already comfortable with that concept in your market.

Examples might include areas in the Midwest, Southeast, or Sunbelt regions.Multifamily Properties: Consider duplexes, triplexes, or small apartment buildings to increase unit count and spread risk across multiple tenants.Short-Term Rentals: If you’re comfortable with the management requirements, STRs in vacation or business travel markets can offer significantly higher cash flow potential than traditional rentals.Value-Add Properties: Look for opportunities to buy undervalued properties where you can force appreciation through renovations or better management.Decision FrameworkRun the Numbers: Compare the projected cash flow, equity growth, and tax implications of selling versus holding with a refinance or HELOC.

If you’re working with VA-savvy lenders who are comfortable with your plan and don’t impose stricter rules, you might be able to rinse and repeat as you described.

@Desiree BoardWhen deciding between investing locally or out of state, and whether to self-manage or hire a property manager, consider your goals, comfort level, and resources.

Are you suggesting that being crammed in a small hotel room represents a better experience than being in a comfortable homey Airbnb?

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas.