Networking with local investors through BiggerPockets, Facebook, and meetups can help you navigate the market, while avoiding common mistakes like underestimating expenses, poor tenant screening, and hiring the wrong property manager.Good luck!

You can also hire a VA to do this for you. 

It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

Have a criteria going forward with this process. 

Quote from @Tomoko Hale: Quote from @Bruce Woodruff: My thoughts: If you are going to use a PM, hire out the cleaning and any maintenance/repairs, you will be giving away 30+% of your income.So you need numbers to put on your spreadsheet.....1) what are you estimating for your nightly/monthly imcome?

Below are some actionable steps I plan to take after identifying a market:- find a rock star agent by referral and/or calling brokerages and asking to connect with their top producing agents- find a rock star contractor by referral and/or yelp- have control over construction by setting per diems to incentivize contractor to finish the project on time, within budget, and with good quality- leverage my rock star agent's time to check up on the construction process (checks and balances)- hire independent handymen/inspectors to check up on the construction process for a flat fee (checks and balances) There's competition everywhere, you won't escape that in any market. 

Hire a property management company who will manage it for you.

In a way, its not their fault, its just they have become so in demand and they cant hire fast enough to keep up, so the only way to keep growing is via price. 

Wondering what the process looks like for getting a conventional loan for an out-of-state deal.

3) If their handyman can't handle a repair issue and they have to hire outside contractors, many PMC's will then charge a markup for their time - but they don't tell you this upfront or disclose in their management contract.