They need to handle their issues at home.

In response to your original question, closing agents should handle private loans just like a bank loan. 

@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I’ve never actually been legally owed money before so I was green on how to handle things while trying to be understanding and respecting other lifestyles and career choices.

Tenant handles all utilities and lawncare.

They wrote me Commercial policies with high limits....only $100 mo roughly, never had a problem.I would just ask the company that handles your current home's insurance....some will do STR insurance, some won't.

I also notice that @Gregory Schwartz mentioned Huntsville in particular—I definitely think that it’s a strong market for long-term appreciation.As for your concerns about investing out of state, I think an investment strategy that is as close to passive as possible would be best.A do-it-yourself approach—where you acquire a property, place a tenant, interview a bunch of property managers, and handle maintenance yourself—is going to be pretty tough to do remotely.

It's important to ask yourself, and be honest with yourself, how you would handle managing tenant situations if you were to become a landlord.

You most likely would not get access to them until disposition of the entire property/partnership interest of not handled correctly.