You have to have a system set up for vetting guests, creating leases and collecting deposits and rents.

Get a Home Equity Line of Credit (HELOC) setup or take a second mortgage on your house and use the proceeds to fund your purchase in CR.  

Looking any recommendations for companies that help setup llc For properties in Dallas area.Thanks!

This is true even if you set up a business and establish a track record. 

It's just a matter of getting your systems and tools setup along with assembling your local team (i.e. cleaners and handyman) -- You can do it!

I'm in Cuxhaven Germany and reaching out to German and European Bigger Pockets members because I'd like to set up a European Bigger Pockets Master Mind group.One of the purposes of the mastermind is to focus on pooling together resources, be it funding, knowledge or expertise, for all the deals this growing group might offer.

I was thinking of possibly just doing a camp site set up of some kind.

(From there find an agency that specializes in the type of project you are looking for, set up Zillow alerts and watch- understand the market you are diving into so you can spot a deal, a good agent should do this for you too!)

It's nice to have access to the MLS data and how easy it is to set up a showing of a property that I want to see.The downside is you will have to pay the broker, MLS, and NAR fees along with continuing education requirements to maintain your license which can sometimes not be worth it.The biggest perk for me was having people I know come to me to list their house for them but instead I would just offer to buy it and make the process easy for them.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.