We usually are responsible for connecting investors with teams on the ground or established local PM companies.

Since we're In a college town, a majority of our travel demand revolves around the Texas A&M University and the university's events.

There are cases of local governments delaying payment due to budget constraints.

From tax stand point I would think you can separate from primary and be okay with IRS being that IRS will not be local code enforcement.  

I found MLS data outside the are and got data from local property managers. 

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

@Kyle TrotmanI would suggest speaking to local banks, and credit unions.

Based on the information that you shared, if you haven’t already done so, I recommend connecting with a local expert.

As I said, check with local banks and credit unions.