One thing I've noticed many experienced investors are recommending to do, but many first-time investors don't practice is; to go and see the out-of-state property in person.

This painter previously corrected a poor drywall installation of 2 walls and painted with Sherwin Williams small drywall, which looked  good to my untrained eye.  

I'm keeping an eye on Berwyn properties still but a dollar goes a lot further out here!

If you find one who has rental properties and has first hand experience that can be VERY helpful.The conflict of interest is a common question, but really a non-issue if you consider the size of the market and how many properties an agent can buy.My team and I work with a lot of investors and yes I personally buy a handful of properties every year, but there are about 30,000 transactions every year in Milwaukee.

I have personally not worked on any of these but it does not seem to be anything too crazy.It's an FHA Loan that can be combined with other FHA products like a 203k.I am a Loan Officer for "Correspondent Lender" so I can operate under the rules of over 100 lenders...I would be able to place this in a few hours with 1 email...We would just have to make sure all the boxes are checked...Energy Efficient Improvements Must Be Cost-EffectiveThe financed portion of an Energy Package must be cost-effective.

You either have personal knowledge or boots on the ground so you won't be throwing a dart at a place you know nothing about outside of a spreadsheet.

Just recognize that you will have lower payments but that money will be illiquid so your personal financials also come into play

If you can't see the property in person, pay an experienced local investor $100 or so (someone unbiased, not your agent or turnkey company) to walk it and do a detailed video tour. 

talk to the dept of health first (records requirements etc), establish what upgrades/maintenance required, line up a reliable repair/handyman/type person, consult lawyer, and then make your offer, see if you can buy the land it's on via lot line adjustment (ideal scenario). a lot to be aware of, such as system upgrades or county code changes bringing in the requirement to add metered connections to an older small system, for just one example.Otherwise- owner doesn't want to manage, I doubt you really do either but could be wrong. 

Offer cash for keys to person but money is only after they leave and property is left in broom swept condition3.