Managing rentals when you are nearby can be challenging but out of state is pretty tought.

@Owen Rosen the links you shared pretty much only state a tenant shouldn't have to supply liability coverage to their landlord.Of course they will say this as the provider does NOT want the extra liability of covering additional parties!

@Albert Gallucci as many have pointed out, in the commercial space of 100+ apartment buildings and offices, property classes have some pretty decent industry standards.We started applying these to 1-4 unit properties around 10 years ago, which you can verify on our blogs, because we saw too many newbie investors not properly taking into account things like, neighborhood status, tenant pool, property condition, etc.Unfortunately, there's no industry standard for this, but you can use some basic logic to think your way through your own Classifications.

(aerial measurement).The renovation list is pretty long—roof, HVAC, windows, full interior updates, electrical, plumbing, landscaping... basically a full gut.

pretty tough but who knows give it a try and see what happens

If you want to check out a pretty cool interactive map that shows tax data for every state, and even county, check this out from SparkRentalhttps://sparkrental.com/states-with-the-lowest-property-taxe...

. ---- 6 month update ----I still feel the same as I did when I posted this, I'm pretty happy with the service they provide.

Yea, the area is not the best and the passed 2-3 months is always pretty tough to rent.

Maryland is also illegal to approach someone in default and has some pretty stiff penalties

The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.