It is vitally important to have good clear communication with your business partners, investors, vendors, property managers, etc...

And to reiterate, building your out-of-state team is going to be vital to your success investing OOS.

It’s more expensive, but is thicker and has a thicker wear layer.

Don't overcomplicate things early on, as your business grows you will add layers and professionals to your team. 

Just removing a layer of filtering on this for my STR was the main concern.  

This can add a layer of security for both parties, ensuring that funds are properly managed and disbursed according to the terms of the agreement.Legal and Financial Representation: Both parties should have their own legal and financial advisors or representatives.

A few tricks that I like to use that will often get the AUS to approve, after it denies at first cut due to "risk layers" (low fico + using rental income to qualify + 5% down + 2-4 unit + 1 borrower):- Document add'l reserves.

Just an extra layer for the lender to unfold.

If animals have been peeing on the wall or floor, there should be a massive mold + stain under the outer layer.

We had to provide the building inspector with the (Contego) intumescent paint specifications along with our plan for meeting the spec to achieve the 1-hour fire rating (3 layers as I recall).