Hopefully, this is a useful example of what’s achievable with out-of-state investing, even with no local connections. 

I'm a local wholesaler, STR investor and generally curious real estate dude. 

I'd highly recommend attending some local reia meetings.

I personally think it is best to work with local professionals with a good track record. 

They could also call the local board of realtors and talk to the grievance or professional standards dept to file a complaint.

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

Your best bet would be to connect with local operators and ask them.

I’m not local, so I’m trying to get a feel for what it’s actually like making deals in this market right now.

@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)

Glad you have experience investing locally.