I also own a small STR property management company and own two STRs out of town that I operate remotely.

Furthermore, if you can not find deals locally, why do you believe you can find deals remotely?

I suspect those guys grew to fast and it got out of control..

I'd love to buy up some land in the Christmas or Santiago Mountains, but I love hunting for and photographing rare snakes so that's sort of a niche use haha.The Chihuahuan desert and western mountains of Texas are no joke, it is some of the most remote, unpopulated, water-starved, but breathtakingly beautiful country in the entire US.Just FYI it's not that west Texans dislike solar or wind farms... we love money!

Only thing you can control is price and making sure the home is prepped and shows well. 

Max, investing in Alabama from Miami is a solid strategy for better cash flow, but remote management has challenges.

.- Generally landlord-friendly state, no rent control- Secure government jobs/contracts make the real estate market much more resilient to recessions / major corrections- 15-minute drive to the Capitol of the United States- 4 Seasons- 15-minute drive to Arlington, Virginia (Amazon Headquarters 2 ((2017 announced, 2030 is bringing 25,000 new high-paying    jobs to the area)), Boeing Headquarters (2022), Microsoft Headquarters (2021), CoStar Headquarters (2024), Bloomberg    Headquarters (2017 expanded), Deloitte, and the list goes on)Thesis:Although more companies continue to go back to the office, there will be a shift toward a good amount of workers being able to be in hybrid roles.

The greatest control point is before that first lease.

I'm not stating that it's inherently wrong, but aspects of it have gotten out of control.

For late payments, always stay in control.