For background, I'm partnered with an architect and interior designer, but I'd have to find most of the subs as I don't have any formal connections (at least in the area I'd like to build).

we did the first 3 in a 18 month period we used internal funds so no debt.. these were 350k to 400k all in projects.. so U need cash to be a spec builder or you need investors if you dont have cash..

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

My investments are all in the Twin Cities suburbs, but I have helped people with financing as far north as International Falls :) @Jeff Schemmel who do you know in the Duluth area?

(we charge the same Processing Fee as depositing to our bank)4) Pay online using their tenant portal (we absorb the small fee, to encourage this behavior as the internal resources saved more than cover that fee)We understand we have scales of efficiency a DIY landlord won't.

Do you run the numbers yourself, do you have an internal CFO, or do you work with a fractional party CFO?

So, yes, you can absolutely have a great rental business as an out of state ( and even international ) investor, as long as you have a solid team that are your boots on the ground. 

Again i believe it is my best estimate of actual sustained maintenance/cap ex in my market.I did an estimate about 1,5 years ago on a emerald coast 3/2 condo with class a interior finishes and came up with $300 for just the interior (class a finishes cost more).  

It's a good time to review markets, but living in China there are a lot of other closer, international markets that could be options as well.

—----------------------------------------------------------------------------------------------------------------------------Subcontractor Agreement TemplateThis Subcontractor Agreement (“Agreement”) is made and entered into on [Date], by and between:Contractor: [Full Name/Company Name] [Address] [Phone Number] [Email Address]Subcontractor: [Full Name/Company Name] [Address] [Phone Number] [Email Address]Project Details: Project Name: [Project Name] Project Address: [Project Address] Project ID or PO Number: [Internal Identifier, if applicable]1.