I’m trying to stay remote to this area because it’s my first investment and I want to be as hands on as possible.

Note: a Mortgage Credit Report will pick up dirt that those worthless "Online" consumer fico score reports won't show.Depending on how much of a Credit Criminal you have on your hands, in addition to a substantial "refundable deposit ask for 1st month's and last 2 month's rent up front (note: need to open an escrow account to deposit the rent payments and deposit collected)Write lease with an "EPD"  (Early Payment Discount), meaning if they ensure that you receive the monthly payment BEFORE the 1st day of the month, the rent is discounted $50, $100, $300 or whatever, depending on if you are leasing out a $50k home or a $3,000,000 home.And the very first time the rent is 5 days late, hire an evection company to go post an eviction notice to start the process and/or show them you are not playing and they will likely ensure you receive the rest of the rents on time after thatAnd I could go on and on listing things to do, but these are a few good ones  

Maybe there's a guy who is flipping houses that you can learn from or a buy and hold gal that could use a hand. 

I wholesale a handful every month.

and have worked hand in hand with many people doing the same. 

The more hands on, the higher the return is generally.

If @Doug McVinua is on the case, @Surendra Chawla you are in good hands.

I’ve been a real estate agent and investor for over a decade and have only had this come up on a handful of occasions and prior till today no one has detailed out the rules to me  personally.These rules concern a fairly narrow set of circumstances that many investors will not encounter until it’s causing a problem, so no I don’t consider it common knowledge outside of lending circles.Not being able to sell a home for a profit for 90 days is from my perspective a fairly arbitrary guideline.  

An out of state property seems like a much more nebulous and hands off idea. 

But on the other hand there are homes that was listed on the MLS but never got sold and then went into foreclosures.