I find condos/townhomes to be easier to manage out of state because the HOA handles a lot of the maintenance, just be aware of condo fees and find a place that is reasonable like $300-400/mo or less if you are lucky.

The deal itself seems like an incredible opportunity for the right buyer,  penciling at a 9 CAP. 

It's disappointing that you can't make it work with short-term rentals, as that should be much easier.

I’m here to connect with like-minded individuals, exchange ideas, and continue learning from this incredible community.

In my experience it's easier to liquidate single family homes compared to other asset classes, that's why I like them better.

I will add that you definitely do not need to be near your investments, but it makes things a lot easier when you first start off. 

I currently invest in state; I find it is easier to manage.

Duplexes are very common here and are much easier to find than a Quad as well.

This is also why you will see most deals in the not so favorable areas as it is easier for them to prey upon those sellers.

This home is still an incredible investment, and we wish we had it, but are happier to have all the lessons learned from it.