If you do your research, an out-of-state investment can work, but you need to know exactly how to hire a PMC (most get this part wrong) and you need to ask a vetted PMC what they would buy in the area and what it will rent for. 

You need to learn how to research title.

With all the resources available today to research and learn about the industry, I’m surprised this “easy money” mindset persists.To me, real estate is far from passive or simple.

I've heard that Butchertown, Highlands, and Old Louisville are hotter areas and am guessing that proximity to Churchill Downs and downtown are usually a plus (especially for STRs).I'm casting a wide net here in just doing some preliminary research to get a feel for different areas of town, but would love to get connected with some others who have had some experience doing some of these things and have a good lay of the land and are connected with reputable contractors. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Hello, Starting to research about STR options/opportunities in Mexico (as a Canadian living in Canada).

Research Reviews:While you mentioned not finding much online, try checking specialized real estate forums, Google reviews, or social media groups.

I've been doing a lot of research which is making me nervous but also excited. 

I'm researching them myself, after a tip from an investor friend, but can find essentially nothing whatsoever about them. 

This not only refers to lay people; attorneys also can invest with no research.