I don't pay cash for my RE like he does, but did use his debt snowball to knock out $87k in consumer debt.Glad you recognize it's a problem @John Purcell. 

I can definitely see your point, but in my experience most out of state clients have great hearts and really want to work with their tenant client.

The previous owner had bought some no-name system that nobody recognized and it was hard to get parts for.The HVAC person told me it would be something like $2300 to fix it, but the type of Freon that system used was being phased out and no longer available in the next couple years (at that time).  

I also make a pretty nice living with my W-2 job, but dont feel fulfilled working for shareholders and ungrateful clients. 

Once you think the numbers work then start calling people that are running ads and one conversation Should lead to another and hopefully you'll find enough reasons to fly out and meet some new contacts.Account Closed is correct there's a broad spectrum of deals to buy from a total gut job to a full on turn key program.I'd definitely stay away from fix and flips in the beginning and look at light rental grade rehabbs to full on turn key.The most important aspect of out of state rentals is the property manager, for this reason I finally decided to partner with a management company in Michigan to help protect mine and my clients assets.Ohio, Michigan and Missouri are still under valued and offering good returns.The detailed kind of information you're after is more of a phone or sit down conversation.

That is what a lot of my clients are doing. 

What I advise my clients to do is make a list of all of the due diligence items they already know they'll need and the inspections they'll need so that they can let the seller know right away what information they'll need and what sort of access they'll have to have access for.

Louis for smaller clients, most charge 10% until you hit a threshold of properties.

They do not seem to really look at a client's situation. 

The list goes on.You can get a sense from that that how you'll manage in a particular area is really defined by a combo of a lot of external things and how you fit your services into the local market, and how to best serve the needs of your clients and tenants.Beyond all of those things, the best advice you can get, if you're serious about building a property management company, is to really think about what systems you want to put in place.