This deal, i used my first successful buy and hold property and pulled a HELOC to secure financing and reserves.

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

That said, if you have $50k and want to invest out of state, that puts your realistic budget at $150-175k...maybe even a bit less after you factor in closing costs, make ready expenses, and reserves.

I also assume you do not have ample cash, so reserves would be even tighter and you'll be bleeding monthly on it cash flow wise.

With $330/m in cash flow, unless you have sufficient reserves set aside those funds should remain as liquid as possible in the event of repairs or cap ex.

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.

There are some very aggressive investors that refi into interest only products to free up even more cash in the short term - this can be much more risky though, so not recommended if you are not very experienced and have large reserves.

You should have ample reserves and make sure the house is not a money pit from the maintenance perspective. 

Airbnb cancelled the reservation the day before our guests' arrival, after we explicitly told them that we would not budge on our STRICT cancellation policy. 

Agent concerns are common but agents have just as many reservations about investors.