If so, that is exponentially more challenging than staying local and will require a great deal of dedicated time to mitigate the high risk: researching sub-markets and neighborhoods in your target area, visiting the area (probably more than once) before buying, interviewing PMs, assembling team in your target market, connecting with local investors (joining the local REAI is a good start), and building processes to monitor everything effectively from a long distance (which might require instructing your PM to customize the information they provide to you).You are really going to need a very trustworthy associate in your target market to make sure you don't get screwed over, especially on the rehab.

Monitor the topic for updates.  

More property owners should understand that rentals are NOT a passive investment like mutual funds.Issues to Monitor (politely)1) Monthly P&L Report - if they don't consistently send it around same day each month, they are not organized and it doesn't bode well overall2) Monthly Owner Draws - should come about same day each month, hopefully via ACH, with statement showing how calculated3) Maintenance - question EVERYTHING! 

Hello, We have come up with a way to digitally monitor the electricity use of each unit and email them each the bill every month.

Those residents have regular home health care visits and the homes are equipped or oxygen, medical monitoring, access by contracted professionals (meal delivery, nursing, physical or occupational therapy),etc. the residents have private bedrooms and bathrooms but share living and dining areas. 

It's not smart to put all your eggs in 1 basket - who's going to monitor them?  

However, for rentals, you do need to have someone monitor and add water to the system.   

I also monitor Colorado.gov for state issues and every Realtor associations.

If they're relatively small, open concept and 1 story then you could do a vented gas rinnai monitor heater.Or if it's more cut up and you've got high ceilings then you could run a forced air furnace with the duct work at the top of the ceiling w/ a drop ceiling below to hide the duct work.

I acquired a property in Illinois that had higher levels of radon and it was as simple as putting down sensors to monitor.