My property in MD used to be where I lived and I moved away.I think the same if not more due diligence is warranted when you buy out of state.Do you know anyone in the area that can take pictures and give you some 1st hand details on the area?

Getting out of section 8 is good plan if area warrants better quality tenants.After you need to set screening standards such that section 8s will not qualify without discriminating.I do it by setting a reasonably solid minimum credit score requirement.

In addition most community owners do not allow renting of homes in their community.The reward is generally too low to warrant the effort.

If this is a possibility, you should have a discussion with your accountant w/r to the capital gains you might expect during a deemed disposition and, based upon this decided whether the increased overhead of a corporation is warranted at this time.

If it's the Association's responsibility to repair the pipe and the damage and if it's great enough to warrant an insurance claim, they would pay the deductible too.

Only go to the next level of complexity after you understand the situation and think it's really warranted - in many cases, it's not.

Your condo does not warrant better quality than laminate.

.* Delinquencies of the HOA Payments* Any Pending or Current Law Suits* Investor Concentration of the Complex Only specific bank finance non-warrantable condos and these are first couple items we look at.Let me know if you have any questions.Regards,Joe Scorese

A thorough discussion with an accountant experienced in this type of investing is warranted and will take place, I'm just looking for some opinions or possibly experiences of folks in a similar situation. 

If the money is going somewhere, I feel like it shouldn't be hard for LE to pull search warrants and get info on who owns/controls that account.