20% down, mortgaged the rest through a local bank How did you add value to the deal?

I am looking to connect with local (to myself) investors who have made the leap out of state. 

You also want every adult to be named on the lease and sign it.

SW MN is hard to find Landlord Insurance, all local insurance companies say thy quote you landlord insurance, but they realy quote you general home owners insurance.

I don't want to name the REIT we dislike, but if you want to talk more about this offline shoot me a DM.As far as investor profile, it really comes down to someone's individual circumstances and what they're trying to achieve. 

I am not sure how much you get involved but do your employees contact the realtor and discuss market rents, do the math to check leases versus market rents and which lenders use the "lesser of the two".Closing in an LLC versus personal name can also add a rate hit as well as Escrow or No escrow.

I would allow for differences of opinions that are amicable, and even sometimes heated, as long as names and profanities aren't used.

Renting the PropertyIf your parents rent out the home, they have multiple income-generating opportunities: Renting As-Is: A 4-bed/2.5-bath home in a desirable area could command a high rental rate, likely around $2,500–$3,500/month, depending on local market conditions.

If you can invest locally, I'd recommend doing that before investing out of state.

Property Managers come in all shapes and sizes, I tend to recommend seeking a medium size local company.