You inspect, you may need to negotiate repairs or price changes based on your findings, the bank appraises it to ensure they can underwrite the loan, then you close.If you find yourself anxiously waiting, you can do what the vast majority of investors never do: educate yourself on how to manage a rental.

@Jack Lindstrom I think comprehensive screening will get you where you need to go with non-Section 8 housing.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

They have a free wholesaling course that is pretty comprehensive and is legitimately free.

Don't overthink it, househack if you can to start, keep educating yourself and saving money and you'll figure out how to buy the next properties afterwards. 

Quote from @Brandon Polcawich: I recommend you spend some extra time educating yourself on how to run the numbers so you don't miss something and get into a bind.

And many agents are not educated enough to explain the difference to them in a positive way.

I'm surprised to see you're a moderator because it seems you lack some reading comprehension.

Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time. 

It was more so to educate myself and have as much information as possible befor jumping into realestate investing