If im out of state, does it make sense to join social media groups, etc. to accomplish the same thing without being physically there? 

What is the end product of your effort and where is it located, how long will it take to sell?

The truth is, over the last few years, many of these people are barely cashflowing at all and the default rate with the banks on this product is skyrocketing.

My last electric split my electrician gave me a list of the big things I needed to purchase and he told me to buy them from an Electrical supply company on EBay that sells all new products and this saved me about $4500.

You aren't the insured in this case.Renters insurance does not cover the physical damage of the real property - it covers the tenants personal property and other things. 

william penn bank does not have that product any more. 

Our DSCR product is very STR friendly and heavily lean on AirDNA data vs appraisal.  

Dig into reverse mortgages before pulling the trigger on anything, specifically HECM's (FHA product).

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )

If so, invest.Then, ask yourself does this property provide the characteristics you need for it to give you your return-- location, rental demand, buying demand, physical structure, etc.