Out of state investing does have some unique challenges but in my opinion, the two biggest are knowing the neighborhoods well and good property management.

The BP calculator does not know unique location dynamics, supply and demand, redevelopment, gentrification, demographic patterns, job and population growth or lack of, schools, crime...you get the picture.

Ryan Murdock has a interesting idea.An old church AirBnB would be pretty unique.

I am a landlord with a unique SFH rental in the SF bay area, I lease out (month to month) individual bedrooms and manage the property off site (I don't live there).

You can look up the name of entity you want to register on Texas Secretary of State website, and if it is Unique, and you have a valid Tax ID, ( or your personal number - if you know what I mean),  you can be fairly certain to get the entity registered.  

But I think each case is unique so I'm presenting mine here to get better help.This is for a SFH I just bought a couple of weeks ago for $570k. 

They have some pretty unique commercial and portfolio products.

It means that not only is it rare, it’s unique and genuine.

I also have connections with lenders that offer unique financing for investors. 

id=lcyB3amGu9YCSo many unique strategies to consider in this book.Not directly a real estate book, but if you are going to start investing, The Millionaire Next Door.