Every state has its own requirements for what must be included in a lease and then there are all the Federal overlays.

I would get involved with state or local apartment associations.

its so nice to have investors especially from out of state help you to do you first deal. its so rewarding on both sides.

For those of you that have created a strong team (acquisition, contracting, finance, management, etc.) to streamline your investment portfolio--even from out of state--what has worked the best for you and/or what do you wish that you had done differently?

But I want to cash flow more somehow in thousands  not sure on your capital funding for Miami but if you have the capital and backing I'd look at development for STR towers in the 50-100 unit range. you can get lots around 1.2 million that you can go 12 stories on with structured parking in Wynwood right now that you can build a 15 million dollar asset worth 30 million. you can do the condo exit or hold it as apartments and permit short term rentals. there are some great articles about short term rental occupancy. miami has 22 renters for every 1 available apartment and has the #1 net migrations in the state of florida for cities and florida is the #1 net migration state. it is land locked and developer friendly. it's under built.

As an out-of-state investor I hoped for 2/3 of it, which is roughly the average cap rate OCF delivers.)

Then your project would be eligible for 20% Federal tax credit & 25% State tax credit.  

@Eamonn McElroy you state "As rental real estate with an average period of customer use of 7 days or less is not considered a rental activity for 469, they fall into the latter category if the activity is passive." 

Hi All,I am new to real estate investing and am considering investing out of state.

Larger national companies like State Farm, Allstate, and Liberty Mutual are known for providing comprehensive coverage, so they could be good places to start your search.