Just personally, I would never do an absentee landlord kinda thing....Too many moving parts, too much to go wrong and cuts into your profit big-time....Sentimental value is one thing, but not if you end up hating the house down the road.....Stay local, plenty of opportunities in good ole AZ.....

can I find absentee owners and water cut off lists etc.. on PropStream?

Many tenants will cut their nose off to spite their face and move, rather than accepting a fair increase:(What does Zillow say the rent should be?

I look at it through the lens of dollar cost averaging my real estate investments.

Cost used is $25,000. 

Looking for 1% deals will be cutting things close. 

Keeps costs low and guests satisfied!

Some banks and lenders will cut you off at 6-7 even if your DTI is below the normal percentage.

Cut expenses and work, no way around it.

It's important to run your own comps and go out to the property with a contractor so that you can get an idea of true renovation costs.