I'd suggest reading up on the topic on the forums, where you'll find many examples of inexperienced investors crashing and burning hard trying to do out of state (OOS) REI...the story is usually the same--they had no experience with REI, they couldn't find any cashflowing properties locally, but they saw that properties in other states (often the Midwest) cashflowed well on paper.

Got so burned

Unfortunately my credit took a huge hit because I co-signed for someone’s vehicle and got burned with them missing 8 payments.

If you are part-time, I wouldn't do this because you won't be available for them or know enough to help and will burn the friendship.I would have to know why you got your license to tell you what to do first.

In a state that a lender can get a deficiancy judgement if the deal goes through foreclosure the client can get their credit trashed and end up with a big fat judgement against them.. ( state specific).the reason your probably getting buyers that want to do this is because of all the online notoriety currently like Pace Morby who is huge in the space and the legions of students and followers and then to a lesser extent there is BP's own Sub to Guys..

@John Currey, leaving it up to the contractor to tell you what needs to be done is a great way to get burned and lose money.

After being burned more times than I care to admit to, I've realized I'm a business, not a charity. 

Anthony F. at Fund&Grow made the credit approval process a breeze.

but yes it does come down to that.. in tax cert states keep in mind many insurance companies or large corps or hedge funds will bid down the returns to 3 to 5% there by cleaning the clock of every private investor who thought they were going to win at auction.. so what happens in reality is people burn out doing DD and never getting anything . 

The hard money lender has tons of experience with lots of flippers in your market and if they approve the loan you'll know there's enough fat in the deal for them to be repaid.