Typically will be rent by rent strategy (which is tough for none owner occupants) or College rental.   

Norada would be my first call if I was investing out of state.  

I am currently managing my SFH investment out of state remotely, but I have done it at all and a total newbie in self storage.Can this be outsourced to a management team or the return would be lowered very significantly?

I don't know any hard and fast metrics to check, but just being a member of the local housing pages on FB will tell you that people are clambering to find rooms for rent. 

I want to be a investor buying and holding as well as fix an flips.

Scope Of Work should be detailed and long and is not in the contract (contracts will vary by project) SOW will be a separate document and  referred to as 'Exhibit A', along with other attachments like evidence of license and insurance....

@Taqiyyah Ellis, a business loan/line of credit or private lender will likely be your best and most realistic option.

And that is going to be specific to a property.

Hi Beau, it sounds as though you guys are looking in a desired neighborhood as well. 

In my view they made the correct decision and if you spent significant time recovering this cost, well I think we all know what that is.