If you're considering to become an out of state investor, here are some of my tips: 1) Make sure you do your due diligence and don't be afraid of skipping a deal if the numbers don't work. 2) Know your focus - is it cashflow or appreciation?

Are there any particular strategies or tips you can share to maximize returns while keeping operational expenses manageable?

Also, if anyone has tips how to find good potential sellers that would be much appreciated.

-Tips for managing the HELOC and property finances effectively.Others have advised that a HELOC only makes sense for short term use, not long term due to it's variable rate and risk of over leveraging.

I dont like when folks tip toe around pricing.

Any tips on how to document the damage effectively or how to approach the adjuster?

Did you investigate market rents for comps? 

My daughter makes $25 per hour working at Starbucks while at school ($20 per hour plus tips). 

Another business partner of mine is a marketing pro who helps investors anticipate which properties will book out well and which ones might struggle, provides some creative design tips too, if you're into STRs at all. 

It would be advisable for the potential purchaser to thoroughly investigate every aspect of the property prior to purchase, including, but not limited to, the location of the property, type of buildings, if any, on the property, determining what, if any, liens or encumbrances exist on the property, and any other facts which may be pertinent to the contemplated purchase.