Operating an Airbnb business requires being up to date on current local ordinances and restrictions.

I am a local realtor and investor.

Could you please recommend any local real estate agents?

If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

., so do you mean living in one state while a local PM manages a STR for you in the other state?

Beyond trying to connect on this forum would recommend look in the BP Meet up section and checking out local DFW FB RE investor Facebook groups as well as Meetup.com and Eventbrite for local events. 

If you’re looking to invest in your backyard, it helps to network with as many locals in the industry as you can.

If they do, your best bet is a local community bank that funds these types of properties.Another option is a private lender but that money will be pretty expensive, as mentioned 10%  + 

My sister lives in Lee’s Summit, so I’ll have family nearby to help navigate the local scene.

Quote from @Edward Barrett: New investor here trying to stay in my local market (Dayton, OH).Since I've started looking for my first deal I've come across a few section 8 properties that seem to pencil, but I'm a bit loath to jump into that kind of deal.