The key is to find a good fleet manager at a dealership in your area.

Sure, about one in 2000 times, by someone experienced enough to recognize a very unusual situation, having the capacity to act on it, having the financial strength, experience and tract record to be able to attract the needed capital, having the knowledge and ability to structure the deal, having the ability to manage and or reposition the property after purchase, and having the capacity to carry the negative cash flow until turning the property around or obtaining lower cost financing.  

We will self-manage from a distance.Thanks!

I own a couple Chicago MF that he did gut-rehabs on and his team still manages them for me.

Are you using a local property management company?

It is certainly more challenging to investing actively when you don't live in the market but if you have an investor friendly agent that has experience and connections to contractors, property management etc then it helps reduce that risk.

Another option you may not have considered is to work with a developer and build a multi-family property in a desirable area, leverage ECO construction benefits available ($5 to $15 per sq. ft.) and cost segregation and bring in a management company to manage the property once it is ready for occupancy.

After a few of those I felt comfortable enough to start investing in deals I sourced and managed. 

Now new HOA management is issuing violations, saying No Commercial Vehicles allowed. 

I've had a lot of success with Zillow Rental Manager in the past for quality tenants.