you don't own it, you have no responsibility other than to watch for potential issues for your company as security. 

Really appreciate the thoughtfulness in everyone's responses.Continuing to watch San Antonio as it's an interesting market, given the growth in neighboring cities such as DFW, and Austin.

I'm not an accountant but one thing you may need to watch out for is depreciation recapture.  

I did run across a BP podcast on out of state rentals: https://www.youtube.com/watch?

I've been researching FHA loans because they are an attractive way to get into a property with less money down, but watch out for the higher cost of utilizing an FHA.

it is very smart to start watching and learning the local market and educating yourself here on BP. 

Understand a local market takes more than just a google map or one day trip.... you need to live there and watch the nightly evening news for 3 months......We californian flood every hot, semi hot, and quarter hot RE markets all over the country, and consider anything under $2,000,000 a deal.....The locals have to be laughing at us, is my guess.....

Later down the road you can look into third party labeling and postage placement.https://www.youtube.com/watch?

I've spent the last few months researching, reading books and forums, watching the BP webinars and listening to the podcasts on REI, and getting my real estate license. 

watch while you sand, you Can burn the floors....