Successful BRRRRs are challenging enough to do local to you.  

Starting with the Right PropertyGiven that this is your first STR and you’re planning to manage remotely, I’d suggest focusing on a market with a strong local infrastructure for short-term rentals—like Panama City Beach or Destin.

We put together multifamily deals locally, and also run a monthly meetup group.

Call every local investor agenda (look at the agents that have investment property listings and call them) and call every local landlord that owns multiple properties (you can get lists off of Deal Machine).

I’ve built strong relationships with local agents and other investors in the Hamptons, which helped me discover this off-market property.

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

There are a few options(1)You can get connected with the larger wholesaler firms in the area (2) go through PCPAO site and skiptrace the buyers of similar properties as yours, (3) hunt down the agents involved in the sale of properties similar to yours or go to local REI meetings and pitch it to the investors there. 

If the tenant fails to provide proof, I would reach out to a local attorney about handling the lease violation appropriately, especially since Texas has specific landlord-tenant laws.

It definitely won’t hurt our local market.

If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit.