Hi ChrisManaging out-of-state investments can be a great way to diversify, but it comes with unique challenges like relying on property managers and handling long-distance communication.

In-person interactions are great for building trust with potential investors.Real Estate Platforms:BiggerPockets: A robust platform for connecting with private lenders and investors.Fund That Flip, PeerStreet, Groundfloor: Online platforms connecting investors with real estate projects.Social Media Groups: Facebook and LinkedIn groups dedicated to real estate investing often have private investors or lenders looking to connect.Personal Network: Often overlooked, but friends, family, and colleagues may know individuals interested in investing.Private Money Brokers: If you're working on wholesaling deals, you may find brokers who have established relationships with private money lenders.Real Estate Agents: Some agents have connections with private investors, especially those focused on investment properties.For your 50% LTV, it's good to approach investors who may be interested in lower-risk, high-equity deals.

Challenges?

It's always a little more challenging investing in out of state (I invested out of state for 15+ years) but you can still be successful doing it. 

One thing to note- the building is older (built in 1922), is considered in a historical district, and although each unit has been fully renovated, I have not upgraded all the electrical/roof and plumbing, so that's on the older side which I know is more challenging to get insured... 

This is a thoughtful and intriguing opportunity, and it’s great to see you approaching it with an ethical mindset.

I know I could have a family member co-sign a mortgage with me but not sure the best way to approach that conversation and what incentives I’d be able to offer to make it worth while for them other then their “familial duties” haha. 

I have done very well with a buy and hold approach here with fantastic appreciation in this area. :) Happy Investing! 

What worked well, and what challenges did you face?

It can be time-consuming and challenging if you try to do everything on your own, so partnering with a trusted team can make all the difference.