One thing to consider is there is no guarantee of building equity in pre-construction.

Hi @Konstantinos Lembesis When Settling on a market develop some metrics that you can not only measure the market you are interested in but others that you havn't considered yet. 

Consider hiring a Property Manager to manage out of state properties.

I appreciate any feedback.Regarding Insurance, personally I would never have someone else (A Lawyer) handle the insurance on a Sub 2 deal or any other real estate deal for me, you would be setting yourself up for failure.First of all now you would need to get a POA for the attorney from the seller, that may not be your best move.

Sounds like a problem with setting expectations.

If you have a solid team and some money set aside it's doable

Quote from @Martin Phinney: My wife and I are considering a move from the Seattle area to the Scottsdale area to be closer to her parents.

Would you rather set it and forget it and not need to refi again or rather take advantage of low/no closing costs on this loan and plan to be more aggressive on your rate at the time of your refi?

Your LLC set up in KS is for legal protection only.

Note that the diagram doesn't consider tax implications—that's another important factor you'll need to include in your decision.