If occupied, establish a professional relationship with the owner (caution--if listed with another office or agent, be careful not to set on any toes). 

While Caterpillar, Raytheon, and Amazon have garnered much attention as they start or expand operations in Tucson, less attention has been given to companies like Vector Space Systems, Home Goods, Hexagon Mining, Comcast and Ernst & Young which collectively will bring 2,500 jobs and over $1.5 billion of economic impact to the local economy.

The only ways I would buy out of town is to buy a minimum of 30 units in an apartment complex so you can have enough money to hire a property management company that will take care of the daily stuff. 

When you really get to that, the rest will take care of itself.

It's basically my whole life story if anyone cares to read it. 

There could be other liens that may not be extinguished by the auction so be very careful there.

Insurance payout if there was an accident on the property, umbrella policy would pay beyond what primary insurance didn't pay.Take care of your property and your tenant and it is unlikely that you would be sued.I have heard that people move the deed into an LLC all the time as the property is still secured by the mortgage that you signed.

Be careful, as they will use some unrealistic renovation and ARV numbers but you can still find good deals from them.

Even if you have to keep paying your loan, your investment is taking care of it.

It's just too easy to stay close to home when you loan money, Michael, so be careful and good luck.Jeff S.