Ideally flipping to build up some capital then holding when it makes sense.P Peter, I am a local hard money lender with direct decision making, underwriting, in house valuations, and soft pull on credit.

Since when should any local govt have the right to tell someone they can't rent or lease their property or other items. 

., so do you mean living in one state while a local PM manages a STR for you in the other state?

I have a local representative who can meet the sheriff, but I've heard the arrival window can be quite long and the sheriff won't stay there long.

I’m working with local investors who are snapping up everything they can get their hands on, and honestly, I can’t blame them.

I know more about Phoenix living locally but I hear good things about NC especially from east coast investors.

This could be different in your state, always check with your local attorney.  

Great local property managers are not plentiful, and of those, most are selective about the areas they work so you want to connect with one of them early and often.

I second what John said, but if you are severely design impaired like myself, maybe ask around some local hosts / host groups. 

All are being used as LTR and managed by local PM.