Hello @Yooni Choi,While managing an out-of-state rental property yourself might seem like a money-saving strategy, the reality is much more complex.

(Granted, I am not factoring in various fees that may be saved by financing at acquisition).

Doing it in December will not save you any taxes anyway.

Real estate agents, property managers, and contractors who specialize in your target market can save you time and money in the long run.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Until this point, I had nothing but great experiences with Norada's referrals in other markets, so I put my trust in them here as well.As a veteran, I saved the money for these investments during my time on active duty and while working as a contractor in Afghanistan and Iraq for over five years.

I agree with @Nicholas L. and you, that 99 out 100 people who try this won't make daily home runs and won't retire in Bahamas.

Money saved is money earned.There is more, but I think I'm (we are) off topic.

The cost to repair your vehicle, and perhaps the other person's car, will be WAY MORE than the cost of the insurance premiums you saved by not having insurance. 

This will save you time and effort, as you won’t have to travel long distances to manage different properties or handle tenant issues.For your first investment, I suggest starting with 2-4 unit properties.