The key is making sure you have the right team in place—outside of market research, finding a trustworthy property management company is one of the most important factors in making long-distance investing successful.

@Craig DanielsI own a local top reviewed real estate brokerage and property management company in palm bay.

Fortune 500 headquartered companies always help.You can find a dozen or more markets, primarily in the Mid-South and Rust Belt, that will meet these criteria. 

If its just deed than an attorney can redo deed and charge a recording fee but if a payment missed and mortgage company finds out they can request a total loan repayment.  

Yet the payment processor is issuing the 1099-K to the property management company.

:-) From a property managers perspective, I also think its great that you've decided to take on out of state self management for very legitimate reasons...Nothing is void of a few challenges, as we can all attest to, so as you embark, I wanted to share a few top reasons our owners choose to hire a management company. - As @Jonathan Klemm mentioned, passing on this load so that you can be more present and attentive to your family and not be essentially working  24/7, on-call for the needs of tenants and property emergencies... can be worth the management fees. 

I'm a managing partner at a holding company that does things a little differently, and we have a one stop shop for everything.

I am interested in meeting mortgage brokers, investors, and real-estate agents in the Austin area, as well as anyone who can connect my abilities as an engineer to a tech company in the area.I love learning new things, and not knowing how to do a thing has never stopped me from doing it.

Some outreach to local companies with a transient workforce may be worth your time - you'd have 1 lease rather than 5 (1 per bedroom). 

As the owner of a property management company in Washington, I have encountered this situation before.