I have spent a lot of time on the phone with them and they genuinely want to improve what they are offering for investors.  

In such cases, the property should ideally function as a flip, benefiting from either market appreciation or improvements ("forced appreciation") to maximize its value. 

Oftentimes, they don't realize it and/or they think they're not capable of improving and will blame the president, their boss or bad luck for their circumstances.

Make improvements to the house to raise the appraised value. 

These updates modernized the property, improved its curb appeal, and increased its market value.

These updates modernized the property, improved its curb appeal, and increased its market value.

So it can be done if you really have tight subs and can push them to start each phase as soon as the previous one ends.There are some other tricks we've learned to improve quality and turnaround as well - prefinished siding and tongue and groove. 

If things don't improve, it might be worth considering new partners who are more aligned with your goals and work style. 

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. 

Additionally, there is current optimism with the new mayor, who is focusing on economic development and infrastructure improvements and literally cleaning the city block by block, further enhancing the city's investment appeal.