Navigating these from a distance can be more challenging.Market Risk: You might not be as immediately aware of changes in the market dynamics, and reacting to market shifts can be more challenging when you're not physically present.Travel Costs and Time: Visiting your property or dealing with issues may require more time and resources, especially if it's a considerable distance away.In summary, investing out-of-state offers the potential for diversification and higher returns, but it requires careful planning, reliance on local experts, and a willingness to adapt to different market dynamics.

Many of these are interest only payments until the agreed upon loan matures. ( PMLs are very adaptable to situations, markets, and costs- compared to traditional banking institutions). 

As the industry is adapting with technology in my tenure I see more and more online relationships being established .

@Taylor Cameron  swap them out and adapt what @Nathan Gesner sends you for your tenants.

Establish connections with real estate brokers that focus on investment properties.Funding: Explore various funding options, such as partnerships, hard money lenders, private lenders, and conventional mortgages.Make use of your experience in building to precisely estimate repair costs and provide prospective lenders with well-prepared project proposals.Look into any grants or incentives that may be available to real estate investors on a local and federal level.Create a concise business strategy that outlines your objectives, both short- and long-term, target properties, and investment tactics.Remember, each real estate market is unique, so adapt your strategies based on your local conditions.

Some of the changes are needed, I'd be happy to write a contract for a fee..and another if that one falls through..those that are able to adapt will, including the mortgage lenders that truly drive the marketplace. 

This is a testament to our ability to adapt and deliver valuable outcomes in dynamic situations.

@Brigitte Garrett It's kind of an impossible question to answer as asked because the $2,500 safe harbor rule could determine the tax treatment.To answer generally, an improvement = a betterment, restoration, or adaptation (see  here for a more detailed explanation).

I'm all about taking action, reflecting in short bursts, and adapting on the go.

Partnerships, seller financing, private money lenders, and even using your good credit to get loans are some examples of these.Recall that investing in real estate is a process that requires ongoing education and adaptability.