In my market most of the experienced investors are not buying to buy and hold due to the cash flow issue.  

For experienced out-of-state investors, where have you invested?

     I think the 1% rules best value may be to protect less experienced investors from overpaying for a rental Income producing property.

I'm pretty new to the game and would love to get some advice from more experienced investors here!

Andy Sirkin (fantastic legal team from SF) has a library of free online articles and a set of agreements to purchase, to help you on your way to become a Subject Mater Expert. https://andysirkin.com/article...Elizabeth and Christina (The Rental Girls) have done a great job pioneering the shared ownership (TIC's) model in Southern CA. 

For the experienced cohosts in the group, I’d love to get your thoughts on payment processing options for cohosting companies (LLCs) that position themselves as property management companies but operate without a broker’s license.As an investor and soon-to-be STR entrepreneur, my business will initially focus on managing a small portfolio of vacation rentals with plans to scale. 

Research shows that the more experienced home buyers have a longer and generally more specific list of demands than first-time home buyers.If our buyer does not have a home tour checklist, I give them a version that I have used for years (I did not create it, another investor shared it with me and I have used it). 

I’m looking for information from experienced investors about areas within other cities & states that are promising for such investments.

Building relationships with experienced real estate professionals is something I’ve also found to be invaluable for finding solid deals and staying informed about the market.

Microsoft Excel, and most budget or free online bookkeeping isn't going to cut it in this situation.For the rental properties you own directly, I often tell clients and prospects that a P&L in Microsoft Excel is just fine and a balance sheet is not necessary for tax purposes.