If there was no objective evidence like that, I am not going to make a decision based on "how much I like" an applicant.

A solid property management team (or maybe multiple PMs if your portfolio is large enough) is a must for out of state investing.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

There is also a solid chance that when you act decisively as a business owner that the 'bank of mom and dad' might just kick-in and settle all. 

@Tove FoxInvesting out-of-state can be a great way to tap into affordable markets with strong rental demand and solid returns.

So yes, you can have solid concrete walls, it's still going to burn down.I have read that worst case up to 80 million Americans will relocate in the next three decades.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

You can buy a solid duplex with $1800 rents and no owner expenses for $350-$4325,000 that will appreciate and build wealth and cashflow.

If the community is well-managed and there’s good rental demand, a condo could be a solid choice.

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.