I know this post is a couple years old but i would say it depends on the situation.

Went well, there were a couple hiccups but they worked hard to overcome them and it turned out alright. 

LMHA gets a staff of a couple dozen people and a big budget to be bureaucratic, the tenant gets cost effective safe housing, and we get steady rent checks)Does anyone else have these issues???

I have a couple of MFs in AL, some in Birmingham. 

Will you be able to spot an issue by doing a drive by every couple of weeks.I'm challenging you Brian to get of the fear of "out of state".

You can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

For me, start with either the property who's lease expiry is furthest out in the future OR property that has seems like it will be easiest to manage.3) From what I have heard, rent has really moved upward in GVSC - I'd call a couple RE Agents or property managers that have rental listings in the area and tell them your situation / ask them to send you closed rental comps.

I have a one bedroom apartment I rented out to a nice couple back in June.

I do fortunately have a few connections to a couple small towns across the US (southern OH, MN, etc.) so at least in those markets, I have a bit of an understanding on what areas to stay away from.

Then, pick a couple of target areas and start analyzing deals—even if you don’t have the capital yet.