Any profit from your rental could quickly be eaten by a rising heloc interest rate.

A Qualified Intermediary should be able to gather information on your specific transaction and provide you with guidance on issues that may arise.

We have low inventory issues - foreign cash buyers - a rising economy & low interest rates with a pro-property president - having said that the norm of 7 year bull and 7 year bust cycles has already been jinxed & there are still newer local markets in some states where appreciation is on the up due to good schools - demand vs supply & high median income.

However, I do have 20+ years of remodeling experience, so feel free to ask me any questions that you might have in that area as they arise; I will be glad to help if I can.  

I would say you should feel compelled to fix any repair problem that arises in your rental.  

Also when investing in rental properties out of state there are many issues and problems that arise, and if you have no experiences in the rental property business, this may be a major headache. 

They also pay any & all maintenance costs including any building compliance issues arising from their occupancy & changes to the building.

Knowledge of local tenant laws including airtight leases, a clearly defined eviction process, ability to intelligently negotiate with tenants regarding any issues that arise, 24/7 availability in the event of a maintenance emergency, solid accounting systems, good working knowledge of building systems and general maintenance, demonstrated ability to turn and re-rent any vacancies, and a thorough tenant screening process including documented criteria for your rental standards.The rest is just a gut feel of whether you sound like you know what you're doing or not.

I am also happy to field any questions about the southwest Montana market should they arise.  

As someone who started out my OOS investing in turnkey properties over 5 years ago:PROS: ease of property purchase, can cash flow from day one, fully rehabbed with tenant in place, can finance the purchase with conventional 30 year fixed with 20-25% down, all in one team (shop); can do a full inspection before closing and hold company accountable to any issues that might arise.