@Davante Dennis the location of your lender will make nearly zero difference if you're buying investment property...most of our clients and from California using a Texas lender, buying in Ohio...completely seamless.

It’s doable, but likely has to move extremely quick and basically seamless.

You can devise or download a capex budget.  

My first property has been a seamless process and I am blessed to have fabulous tenants.

Or you can download my estimating templates I have in my Biggerpockets fileplace:Simple Estimate SpreadsheetDetailed Estimating SpreadsheetThere are other Estimating Softwares available as well which can help you manage the Estimating process as well...#5 Practice, Practice, PracticeWalkthrough potential rehab properties (or find properties virtually online) and practice creating detailed scopes of work, quantifying repairs and estimating rehab costs for the projects.#6 Get Your First Rehab ProjectYou can practice all you want, but ultimately you will learn the most about estimating rehab costs by actually rehabbing a house.

What information do they need from you to make the closing process as seamless as possible? 

By me implementing these processes, it has pretty much made the moving of money between tenant rent payments, mortgage payments and vendor payments pretty seamless and hands off. 

@John McCoy max maxwell contracts are solid also, that's a good link to click an download!

Even "The Book on Tax Strategies" skims over the fact you cannot get seamlessly transfer a mortgage to an LLC. 

Good point, I’ll definitely download a list of that type and use it for reference.