@Jesse StrengIf you buy turn-key, make sure you get your own independent inspection.

What’s a key mistake you’ve learned from that could help others?

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Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

@Nathan NoorlunRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

When choosing a location for your first rental, it’s great that you’re considering factors like crime rate, population growth, employment rate, and price-to-rent ratio—those are all key metrics.

Has anyone had any experience with this and happen to know a better way to show the property and get keys to tenants when your property is out of state?

Losing 85% on a single REIT would’ve been devastating if you were all-in, but spreading out across 10 investments turned the overall outcome positive because of the winners.Here’s a few extra key tips to avoid big losses in passive investments:Focus on cash flow: Invest in assets that generate consistent income.

Partnering with an experienced local agent will be key—they can guide you through the market and help identify the best opportunities.

Then, they sign the lease, are issued a key, and can move in.Nobody moves in without passing my screening and signing the lease.