The two downsides to syndications are the high minimum investment and the difficulty in finding good sponsors and deals, but you can solve for both by joining a passive real estate investment club.

I'd like to ask, what has been your biggest challenge with out of state investment?

One of the biggest mistakes I encountered in years doing remodels and builds was when a customer wanted to do their own painting to 'save a few bucks'.It was a disaster - every. single. time.A pro painter is a huge plus to the finish fit and feel of any project, they are just too good.

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The biggest mistaker I mad when I started buying deals, we were self managing.

The downside:  It's hard. 

Luckily most of them are locked in fixed rate loans which gives both the syndicator and investor more leeway and time. one thing that investor many times do not realize is that the biggest risk for any risk is market risk, when buying in market where default cap rate is 3% and interest rate near zero, your upside is very limited even when rate is stable.

A downside you should consider is that this guy has no coverage if he gets hurt or sick, and that's a big risk to you both.

The biggest factor will be the job relocation.

We use Autohost to automate this process via an online check-in system: https://www.autohost.ai/You can also use it to gather additional information and place a hold on their credit card, similar to a hotel.The one downside of Autohost, is that it doesn't have an automated way to collect the ID for all the adult guests (although it collects names + email from the guest).Finally, Autohost can also be used to have the guests sign your rental agreement and agree to your house rules.