You can successfully and fairly easily manage an STR out of state, however for your first one I think it can be helpful for it to be within driving distance (3 hours or less) and it will simplify filing / paying for taxes and tax preparation.

I'm over at eXp Commercial, and with the size of the company it opens up a number of opportunities to collaborate with other brokers all over the US and the world. eXp and REAL both offer a revenue share component which incentives agents to form teams and bring on other agents, I think that is one of the drives for both

t from the shinola…sort to speak ;) correct I meant to say that LOLIn reality to become LP one need to be founder/accountant/CFO-level when examining how this GP operates.

I would say if you don't know the area, you should check the eviction database for that street to see how often evictions occur, you should check crime on neighborhood scout or some other site, and you should drive by the property late at night and see whether you would feel safe getting out of the car.  

People are experience real pain but I think psychology is really what's driving the doom narrative. 

A reasonable basis is required for allocating land and building.Every investor needs to examine their own personal tax situation to determine if it makes sense. 

File all receipts in a dedicated Google Drive folder.

Whatever you decide please take a trip to see the house and drive the neighborhood before you purchase.

You might want to look into neighborhoods like Southwood, Linden, Driving Park, and Franklinton.

Both working okay/fine paying jobs, both worked through school so no student debt, driving old cars so no car payments