I've been buying SFH's out of state all cash as long term hold rentals.  

I have a number of lenders that I work with that will do up to 80% on a cash out refinance.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I'm in a team who does these deals and we have a team of "door knockers" who go back weekly till the auction, they file bankruptcy which only delays 3+/- months 100% chance that the lender will as that their mortgage is removed from the bankruptcy they file NOD yet again.   

In terms of maintenance, they are generally safer because you are not responsible for the exterior and common areas and potential leaks, etc.

I think will find that out-of-state will be much more operationally challenged than local.

I am an out of state investor and I am being told the property manager can no longer serve the eviction notice.

I really don't have the $23k down payment I'd need for a DSCR, and Texas wont let me HELOC the equity out of my other rentals. 

I don't believe "waiting it out" is an effective strategy.

The key is to pick the right out of state market.