Second question is, if we don't live in the city we will invest in, we understand we will have to be traveling often, but who could be a good person to check in on the construction so we don't have to go every week?

I found a house that I like to purchase in a great neighborhood and the exterior looks great for a 1922 stick built house.

Since we're In a college town, a majority of our travel demand revolves around the Texas A&M University and the university's events.

Since our residents are traveling "light" to a furnished property, their coverage only costs a few bucks per month. 

Take some money and invest in traveling to places in the U.S. and international markets that interest you.

Since you plan to travel often, focusing on systems and building a reliable team: agent, lender, property manager, and contractor. 

Be aware of tax implications: rental income is taxed in the property’s state and reported on your California return, with deductions for travel, depreciation, and expenses.

The frequent travelers that like to do repeat business, cherish those basic things.

There's quite a bit of threads on the same topic weekly - you'll find plenty of markets shared.What will help you figure what market to invest in will be answering a few questions for yourself: are you willing to travel to that market, what is your buy box, are you seeking appreciation or cash flow more, do you have or reasonably can garner an edge in that market (ie - can you build a great team).

Where do you live and how far would you want to travel to manage the property?