For that matter there's still a lot of Eastern CO that is relatively inexpensive that could be used as a hunting lease or share cropped with a farmer.Just a few of the more "out there" ideas.

I have a few properties pre selected, will define within days.I would like if experienced investors in that area could point me to proven Property Managers, good, honest and inexpensive. 

Thanks for any insights on this guys... at this point, the whole virtual business realm is so new that it feels like keeping the cheapest office unit for now would be the wisest move... but that'll be another $3,000+ per year in expenses that we would prefer not to pay.

Turned out to be an easy inexpensive job, 4 hours and a $1000 later I had the place structurally sound.

Rentec Direct, because:  (1) A complete management solution for professional property managers,  (2) All of the tools for landlords to easily manage properties and tenants,  (3) Order instant credit, criminal, and evicton reports on your tenants, and (4) Inexpensive.

Are you suggesting it should be drive-able from where you are, or would a quick and inexpensive flight suffice?

I've enrolled in an inexpensive course on analyzing real estate investments and have set up various online saved searches to forward me houses that meet certain criteria. 

We live comfortably mainly because we have no bills, and we live in an inexpensive place. 6 months ago, my wife and I were able to buy another house.

Basically it is to deter long distance investors from buying a place and then becoming an absentee landlord...One option many use in this area is to register a tenant as the acting agent.Not the best move from a liability perspective for you, however it’s inexpensive and frequently done in college towns.Your other option is to work with a property management company, which is what the borough would like all landlords to do.

For example if a property had gross rents of $10k/month the 50% rule would imply roughly $5k/month in expenses.