Banks have to monitor their loan portfolios to insure they are and will continue to perform as expected.

But the hassle of finding the contractors and monitor the work seems pretty infeasible for out of state investors.Have anyone done that before?

I am considering using Monitors if I can find a good price.

What she did was sign as the contact person at the nursing home and had the right to put money into my neighbor's account at the nursing home and monitor its usage.

This means you need a monitoring system which are really inexpensive.

Do you charge for monitoring and maintaining vacant units?

There's always some good locals that monitor that forum and you might get some good recommendations there too. 

Good management and 24 hr video monitoring ? 

.- Continually monitor/check brick veneer for repointing, sagging.- Check chimneys for cracks every two years in elderly properties.- Annually trim back tree branches extending near or over roof.- Perform radon test every 5 years.- Perform sewage line inspection every five years, especially with old, established trees in obvious vicinity to sewer line, maple root systems are typically shallow and extensive (<5 feet)/oaks go deeper and never stop growing even if the tree branches keeps getting trimmed back (>5 feet).- Monitor typical icicle build-up, watching for insulation/roofing degradation.- Glyphosate weedkiller application 2x yearly, early spring, midsummer in problem areas.- Check window trim for wood rot (I have a constant bone to pick with window replacement companies that offer window wrapping for older homes, completely hiding existing trim as it degrades further and lets in more cold air!)

I am an advocate for having your first investment be nearby so you can learn and monitor progress (most first deals end up having one issue or another since you're still learning).