If you live there you probably have a good handle on the subtle market dynamics.One significant risk of buying any property out of state is that you have a lot less knowledge and first hand experience with all the nuances of that specific market.

If you need a hand in the future, I'd be happy to help. 

How would people recommend approaching the initial set up of that property with an eventual exit (via sale or hand-off to PM/operator) in mind? 

Even if I’m only netting $500 per property, it’s still a solid way to generate passive income.I want to be as hands-off as possible.

They may also require US credit history, although there are a handful that will not require a US credit report for an increased rate/ reduction in LTV. 

Hey EvanI prefer hands off but I know that 2 heads are better than one.

Hey @Marc Shin, hehe like @Bruce Woodruff said, you are single-handedly increasing the topics for searches!

As I grow I will hand over the virtual management duties(90% can be done via phone, internet, and mail) to an assistant and get a broker lined up to do showings based on a fixed rate price to show a unit when needed so I am confident I can put together this structure and meet or exceed the 5% target in the future.

It’s not about chaining yourself to a rigid model; it’s about giving yourself a reliable starting point, so when the next tempting deal in Phoenix’s midtown corridor pops up, you know it fits into your broader strategy rather than just hoping it’ll magically work out.At the end of the day, nobody’s going to knock on your door and hand you a neatly packaged portfolio.

REITs like Realty Income can definitely be a great hands-off option for steady income without the headaches of property management.That said, owning physical real estate has unique benefits like leverage, tax advantages, and control over your asset.