I have two properties rented and a PM that manages them.I recently found an inexpensive property for sale in indiana.

I love (hate) when I have, for example, a unit I manage for someone else, have for example, an AC problem and its a $1500 last min fix. 

I would consider it a working class town and we have seen great rental demand and had great leasing experience there with the roughly 35 properties that we manage.

They have good credit and generally manage their money well.

Given this I know I will need a property managner/property management firm at some point.

Hi starting a real estate investing company and looking for the best accounting software to manage financials from expenses; collecting rents; buying and selling, etc.

My advice is to form a relationship with a landlord attorney in your state, and in particular, one that is very familiar with property management, to prepare your lease specific to not only your state laws but also how you want to do business.

Anything I should keep in mind for managing a rental property out of state?

I'm Steve Welty, the CEO of Good Life Property Management.

However, property management is not easy.