If you do choose to invest out of state, the best advice I could give you based on what I have observed running a local real estate group here for over a decade is build your own team.

@Basit Siddiqi@Joaquin Camarasa@Bruce LynnA few observations/opinions on the topics discussed from a resident of the 51th state of the US (Canada - LOL) and investing in Spain:1.

Pic 36, metal under rooftop needs cleaning, storm cellar (?)

But ...The first thing I observed was the replacement cost portion of the quote, was, IMO, less than what it will actually cost to demolish the remains of the existing structure, pay for any hazardous waste removal following a catastrophic loss, and actually pay to replace the property in the event of a total loss, even though I used the quote feature to increase the replacement cost value by 20% (the maximum it would allow).

Subdivisions of build to sell are favorable to local SFR landlords because more rooftops means more retail and dining, which makes a more desirable rental area. 

Best way to detect this is to observe them during the home inspection.

Some of the hottest areas I've observed include Temple, Kyle, and East Austin.

However, from what I’ve observed, it’s still not enough to produce meaningful cash flow.

A roof extending over a lot line would not be latent, as it is observable with the naked eye.

After some observation, we decided it was just noise - no one was watching it; they were looking at their phones.