There's usually good locals that monitor it and can make good local suggestions.  

I was told I need to pay some company an annual fee to monitor it (surprise surprise ...fees everywhere). 

we are closely monitoring this unit and area but mostly have decided to exit this location by next year.

There are usually some good, local investors that monitor those forums.

Here are some basic numbers as I see it:Purchase price: $1,800,000Down payment: $360,000   Closing costs and rehab costs (lots of rehab and expecting high turnover) $140,000Total amount invested: $500,000Expected annual profit after mortgage: $70,000Preferred return of 8% to investors ($40,000) and then 70/30 equity split (LPs: $21,000, GPs: $9,000)So, if I syndicate this deal with a partner (I don't like the idea of syndicating on my own) we would each make $18,000 for the Acquisition Fee, then $2,700 each for the Asset Management Fee, and then $4,500 each as our part of the equity split.

This route is a little more expensive (cameras + wiring) as well as time intensive since you'd be monitoring the cameras, citing people, dealing with those people, trying to collect those fines.

This will make it easy for me to work on until its ready to rent, then when it comes time to rent it out I can easily monitor it's activity.

And I certainly stand by the motivational aspect of visibly monitoring your net worth growth.

One is you are immediately at a disadvantage compared to local investors who know local neighborhoods, can better monitor their properties, can network with local investors and on and on.  

September 16 deadline (delayed one day since Sept 15 this year is Sunday) applies only toPartnerships (including some multi-member LLCs) that filed a 6-month extension request on Form 7004 on March 15S-Corporations that filed a 6-month extension request on Form 7004 on March 15I’ll start with a concise summary, followed by a more detailed explanation:S-corporations: September 16thGeneral and limited partnerhips (GPs, LPs): September 16thSingle-member LLCs: October 15thHusband-wife LLCs in community property states: October 15thOther multi-member LLCc: September 16thNow bear with me, as this can get a little confusing, especially with LLCs.Most LLCs (Limited Liability Corporations) are NOT corporations.