The concern with out of state investing is your money goes to down payment and property management.

@Ibrahim Mawri my main concern is on exit strategy. 

Since you admit you know very little, why don't you analyze what's gone wrong with this PMC and interview new ones to address your concerns?

. $100,000 is definitely enough to acquire a long-term rental in Montgomery—it’s one of the most affordable markets in Alabama, after all.As for your concern about being unable to lease the property out, I imagine you’ll be fine.

Realize these same concerns apply to other Syndication asset types also.Do stress tests against the deal for both hitting the financial targets and also the Capital Stack impact.

I'd love if the property would cash-flow after we move out, but the neighborhood and appreciation potential is the biggest concern for me.

That's what has always concerned me with getting a property subject-to. 

Do the laws vary from state to state, and if so, is anyone familiar with the laws concerning this in West Virginia? 

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

If you are going in cash it's not a concern but limiting your option for the purchase financing or refinance option down the line will cause headaches.