He said he wanted to meet in person first.

This post reflects my personal experiences and opinions, so always do your own research before making any final decisions.

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

Consider whether an LLC is right for you—it can provide liability protection but isn’t essential for a single property, as personal liability insurance and an umbrella policy may suffice.

Just go ask Shaquille O'Neal.Simply because one person can't doesn't mean others can't. 

In our experience, Remote Investing requires finding a PMC that takes the time to understand an owner's expectations and discusses if & how they can be met.A common problem is a percentage of Remote Investors expecting their PMC to be a personal assistant.

It might be good to have a 3rd person go in and acknowledge that there is smoke damage. 

Even if you personally have just a modicum of design aesthetic sensibility, after reviewing 20 or 30 properties, you will quickly be able to get a sense of the winners.My 2 cents,Mike

Welcome, great community here on BP but also in-person in Central Texas, definitely encourage you to get involved in the lots of groups and events in the region!