I always make tenant do it as a hand off a property and recommend they do it on move in day while they are there to react if something goes wrong, having a water key nearby.  

Will it be a property to live in yourself or to rent out, have you thought about any desired ROI, your buying power capabilities, etc.There are a lot of people in this post that can give you a hand of direction towards certain places/markets.  

Have had to witness that first hand and work through a half a dozen of my land projects were I was the lead and the GP's stopped communicating leaving it to me..

I'd recommend looking for partners to help fund the difference, from the lending side our hands would be tied.

We don’t have much cash on hand to buy and fix up our next property.

If the economy slows down further and unemployment begins to rise, I believe that their hand will be forced to an extent and the FED will need to put some attention on those figures.

The values have gone up and our cap rate is now less than a hands on property would be (we have several, that's all we do).

All hands off except answering guests questions. 

On one hand, paying all cash minimizes risk and lets me reinvest profits quickly.

The place was in very bad shape with only a handful of the 24 units actually rented.