From what we have been seeing from the people investing in our projects from abroad is that only to open a bank account they themselves need to be here, although I imagine that towards the future this will be changed as well. 

@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

That then registers the property at a new “base rate” and your future rent increases all be “base rate” + Inflation as guided by the town.

Next, plan on inspecting your properties every 90 days; you can communicate this to the tenant as you ensuring the property is in good order and to help you plan for repairs/future improvements. 

Good luck with your future endeavors! 

I would recommend you and your husband get on the same page about future investing goals.

After some additional research we have decided to focus on the aforementioned markets, but I will keep you in mind if we decide to look at Columbus more closely in the future. 

Will you look to upgrade the property and then refi in the future?

Flood insurance is expensive and will be more expensive in the future, as they try to raise premiums to cover the claims. 

In future, please try to only invest directly with general partner/sponsors, not through any incompetent "intermediary".