@Jag SekhonI have out of state properties & have experienced first hand the pluses & minuses.Proximity is important to me:1) The ability to monitor a situation with first hand information.2) The ability to step in if needed to manage a situation3) Familiarity of areas, laws & regulations.Here is my personal preference ladder of priorities for rental property:1) Locally owned property2) Regional owned (no more than a 3 hour drive one way)3) Joint venture locally4) Joint venture regionallyI live in an city where the average home price is $616,000That $616,000 house would rent for $2,800-$3,000/month.

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If you cook for cops or give them some hot cocoa on a cold winters day they will monitor your property more. 

I am currently in the process to buy my 4th house bank financed and all of the sudden a property, that I was monitoring for a while, becomes available.

He's been a reoccurring guest on the BP Podcast, which I highly recommend. 

There are few services like the one you mention that are popping up which would certainly be an extra way of monitoring.  

Because you get automatic alerts to your phone if it gets too loud (and you can set hours & noise levels), it's a lot easier to monitor than a camera system. 

Do you charge for monitoring and maintaining vacant units?

Bigger Pockets has some great state forums and usually there are good locals that monitor those.

I'm wondering what system you'd  recommend for remote monitoring and security for the units?