I currently invest in PA with plans to venture off in in New Jersey also.You have an option of hiring a property management company or self-managing if you decide to invest out of state.

If you have a kid in school, it's a great option. 

If you can demonstrate this, then there may be some options. 

Find your syndication partners and discuss these options with them. 

Like mentioned before, most investors are looking at creative financed options for deals right now in the area.Creative finance, putting a lot of cash down, or house hacking can all be viable solutions.

For example, even 50% down payment, the loan repayment is still more than the rental income. 

This could be an option but based on where you are you might be better of looking near a national park and rental arbitrage is going to be less feasible in those areas (but still possible). 

Doing it this way allows you to ease your way in and costs you less up front - down payment for an owner-occupied property is much lower than an investment property, you may qualify for down payment assistance and can even use funds as a gift from a family member if that's an option. 

Hey Thomas - I'd highly recommend speaking with your CPA and an Investment Sales broker about your options when it comes buying an STNL deal to utilize depreciation.

I would estimate that if a manager was to provide this service only, they would charge a bit more as they would not be receiving continual income over the life of the lease.Feel free to reach out if you want to discuss some options that I may provide.