Hey Teresa,Other than actually physically checking the property/area out I like to do the following two things to check for the potential of a subject property as far as "safety" goes:1) Google Maps street view. 

Beyond that I wasn't sure what else to consider, aside from will this physically work as a house hack.

My current property manager will not manage a property without a physical address.

Physical stamps and handwritten addresses can considerably increase your open rate, but they are also much more labor intensive than other methods.The best way to learn is by doing!

Or just a physical presence to help with a few things?

I am not sure of any liability as I do not believe the construction will not interfere with the tenants physically. 

Change in demographics, change in tenant type, and change in tenant and consumer requirements in terms of physical space.  

Not sure how much you understand so this might be extra but you dont need to be a contractor however you DO need to understand a few basics of  physical property 101  helps  in knowing who to hire and also what to look for in terms of damage or issues-  a house can be divided in three parts... the bones/structure, the guts/mechanical (behind the wall stuff that you see during the "rough-in phase" of construction),and the face or skin/cosmetic aspects (stuff in front of the wall - cabinets, paint, light fixtures, faucet fixtures, flooring etc). 

You will need to know factors such as economic trends, population shifts in or out, state laws and local laws (landlord friendly vs tenant friendly etc)... physical property hazards by season (flooding, rain, hail, fire) or in general (ie I personally can't fathom investing in New Orleans unless it was to AirBNB for the short term and then sell the property)   - If you can narrow down to one or two states, then I would look for "where are the tenants I want to deal with located" theres so many ways to answer that question but you may want to start looking in a major metro area... most states have less than 10 major cities or areas of decent population density. 

Does REIA Rico have any resources for investors that aren't physically on the island?