BRRRR deals can be trickier to come by in these spots due to their higher demand, but the way to go is to build a solid team with local connections who can share insights and bring you deals!

So, yes, you can absolutely have a great rental business as an out of state ( and even international ) investor, as long as you have a solid team that are your boots on the ground. 

This is after all construction in Los Angeles, if you've never done it before add 50k.If you have $500,000 in cash I suggest you use it elsewhere, this years long headache is likely not worth the 1000's of man hours you will also have to put into it running your very own team of scientists.

Insurance right now is wild, so I'd get a solid broker on your team - I'd be happy to share my contact if that would help.Also, aren't most of the existing insurances shared on the OMs for the properties? 

I work in acquisitions for wholesale and come across deals sometimes so amazing it hurts me to see my disposition team sell them.

The fact I can go to my kid's golf game today, yet still catch a vendor overcharging me $81 the day before on a SFR in Georgia makes me feel the systems that are in place, plus the ability to manage sacrifices has paid off.I've had the same team in most of businesses for almost 8 years, and have a growing RE team that continue to impress me. 

To me the only thing that is working now is partnering with people who have their own salaried teams.  

@Tonya ODell works for our team in Atlanta.

I personally use Hostfully and their support team is great!

Their online reviews on google seem great and everything is 5 stars but I promise you the team is terrible.