This would build a great team and build up the people out there and around you out there (even with you not being there).

My family also has benefited from really high appreciation in the last 10 years due to a lot of northern Europeans, specially Germans, British and Swedish people who have a higher incomes and net worths than locals, buying a lot of the real estate in the nice locations. 

They are projected to add 250,000 people in the next few years.

What are people's thoughts around tenant's Renter's Insurance in Chicago?

Their goal is to put you and most people reading BP out of business. 

Every time I go to bid on property on civic source people are bidding it up to or over market value.

I am looking for some people to connect with in that area that may have more experience as we are out of state investors and have heard that Mississippi has great opportunities for cash flow and for people starting out in this industry. 

I'll try to respond to each component of your comment:- My idea of using an equity partnership as described above is coming from Brandon Turner's book "Investing in Real Estate With No (and Low) Money Down," and in the chapter on partnerships he goes through various why someone with cash may want to engage in a partnership.

I would network with contractors out in your area, or you can find people online (VAs).

While this isn't common, I have know people that bought their first rental and when tenant moved out, had caused close to $20k in damages and skipped town after one year of living in place.