If this is your only rental, it's more about if you want to keep the property from a management perspective.

No management costs?

Are you currently managing your own properties or do you have a property manager because many times a property manager can perform the work needed for it to be turnkey.

I would think about tenant expectations and how much maintenance you’re willing to manage down the road.

3) Buy a few out of state properties directly through an agent and work with a property manager to manage them? 

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

I'd start by talking to others who are landlords or property managers in your area.  

I am a single house landlord and manage the property.

It’s on the rise but you just have to be selective regarding location and try to go for turnkey or keep it minimal regarding rehab  So you don’t have a nightmare story trying to manage a rehab from Out of Town. 

I feel that MLS is not accurate because not all property managers put them in.