It's been a tough market for high or maybe any cashflow with decent A/B properties in some parts of Houston, BUT the long-term equity growth is what makes these type of investments very positive in the long-run!

So, yes, you can absolutely have a great rental business as an out of state ( and even international ) investor, as long as you have a solid team that are your boots on the ground. 

Honestly, Tampa checks all the boxes for cash flow, appreciation, and long-term growth, so let me know if you need more specifics or help with a plan!

My focus has been taking abandoned properties and renovating to rentals, both short and long term.

I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit).

How long would that take? 

Investing in real estate is a long term way to build wealth.

I know I already mentioned this, but @Mordy Chaimovitz...If you can get by with lower cash flow and invest for the long-term generational wealth (aka appreciation) in nice neighborhoods, that is the way to go, but it's tough to get by at times -- at least it is for me.Just know everyone's situation is different, and you should do what is best for your specific circumstances!

I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

(Why not just rent as furnished long term at this point?)