Hey @Katherine Lewis, I have always felt this was a tougher row to hoe overall.It's not that it couldn't work, but the juice might not be worth the squeeze.If you go all in you have to do it for the long haul.

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!

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