It's a criminal act in those 3 states plus other random states around the country.

For example, the entity is registered with the state, providing transparency and avoiding title issues, which makes lenders more comfortable with the arrangement.

What does your PM agreement state regarding indemnification4.

HOWEVER, HOW the double closing is setup could change "legal vs illegal" in certain states. 

@Aisha Young we have many current and past clients that do well here in the states.

.• I’m currently in Atlanta, GA, but I’m open to both in-state and out-of-state investing.• I’ve started looking at affordable markets in the Midwest and South and have recently focused on Northwestern Pennsylvania after speaking with an agent there.• I’m also in contact with a property manager in PA to ensure I have the right team in place.• I’ve spoken with Sophia from BiggerPockets as a starting point and have watched a lot of YouTube videos, but I need guidance on taking the next steps. 

My agent has gotten me much lower rates than State Farm / Allstate.

Norada would be my first call if I was investing out of state.  

Not crazy at all, it's much cheaper out of state compared to Colorado.

However, some lenders may require it depending on the state (due to licensing and compliance reasons usually).