Partnering with investors, attending local meetups, and building a strong network would be key steps.

i like the family connection but you really need a strong network to buy out of state.

Think of it as the rough sketch that helps you figure out where you want to swim: Omaha’s stable single-family rentals with decent cash flow and strong appreciation potential, the sizzling up-and-coming pockets around San Antonio where off-market deals still lurk if you’re willing to roll up your sleeves, or those tight-knit Chicago neighborhoods where a trusted investor-friendly agent can point you to contractors who won’t ghost you mid-reno.

Success depends on finding properties in less restrictive areas with strong year-round demand and aligning your strategy with local rules.This post does not create a CPA-Client relationship.

The current market definitely has some great opportunities for strong ROI and equity growth.

Mailing campaigns targeting landlords who’ve owned thier properties for 20+ years (especially small multi-family) have brought in some strong leads.

I strongly agree with Nathan but wanted to add that residential RE, even with the use of a PM, is not passive.  

Rentals that are market-rate but lease quickly often reflect strong and steady demand.

I listed it for a month, then decided that cashflow would be strong with the current mortgage.

Most invest in these smaller assets focusing on wrong criteria leading them to markets without meaningful appreciation and even when they do stumble across a market with strong fundamentals they do not understand  real estate finance and/or fail to exit these assets when they the appreciation event occurs wrongly focusing on rental cash flow.The ability to combine a high earning W2 with a sound investment thesis is a winning recipe but not realistic for most.