I found a 4 BR home next to local hospital. 

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

Find your local REIA and start attending and find the Realtors there to build friendships with. 

Office, event space, wedding venue, warehouse, etc.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Here’s the winning formula successful local house buyers and wholesalers use to connect with sellers, close deals, and create win-win solutions:Be Relentless: Show up every day with positivity and persistence.

A local property manager will make this much easier and handle the visits for you.Single-family homes can still do well, even with more apartments popping up, as they cater to tenants who want privacy and space.

The PM will also fix things when needed, using local handymen or contractors, and collect the rent for you.

If you’re interested in investing here, I’d encourage you to speak with a knowledgeable local real estate professional or lender to get accurate guidance.

Real estate is so localized that most federal based policy changes don't have massive influence.I can see him (semi-)privatizing Freddie/Fannie.