Read Averys book and past posts in this forum.

I am currently trying to learn as much as possible by reading books and listening to podcasts.

The only other cost is to the book-keeper who gets paid hourly to categorize a few transactions a month which takes less than an hour a month.Drawbacks of the lease option model.- There is risk in that the rehab has not been completed and the financing has not been secured so there may be unforeseen issues with the home or lending process that may cost more than the estimated costs which can then reduce profits.- The tenant buyer may decide to not exercise the option or may decide to terminate the lease early which may produce a profit less than the projected returns.- The money partner is not the only owner of the company which owns the property and thus has limited decision making over the property.

Zoho Books, I am not using this as my partner uses it integrates nicely with CRM for book keeping and I could provide access to our CPA for Taxes. 

These are the primary factors that will guide your choice of market and the type of deals you'll pursue out of state.Investing out of state can be tricky.

Google the term UBIT.Tom Wheelwright has a chapter on why you don't want to do this in his book Tax Free Wealth.

I have been listening to the Bigger Pockets podcast for years ever since I was in High school I have read a few of the classic real estate books.

Hospitality, attention to detail, cleaning/handyman team, programs used for bookings and calendar organization, inventory audits, home maintenance, etc. are all extremely important but all of that doesn't even begin to describe all of the things an experienced property manager does.It is a matter of how much time and energy you have to invest in your properties and if that time and energy is worth it to you.

Read some books. 

I would suggest starting with reading the IRC book all the way through multiple times.