out of state investing in a distressed property is possible but very difficult and extremely risky.

The city/county laws for the most part seem to mirror state law (AB1482) so my current reading is I am exempt from "rent control" and "just cause" requirements. 

This shift underscores the advantages of private money’s agility and long-term outlook, unencumbered by the need for committee approvals or short-term returns.Recently, large funds have been facing challenges due to immobile private equity assets (worth $3.2 trillion) as a result of reduced dealmaking and a slower IPO market leading to delayed investor returns.Meanwhile, state and municipal governments have witnessed a remarkable surge in borrowing to fund affordable housing initiatives totaling nearly $9 billion.

HB 1377 seems to state that DADUs would be able to be sold if it is condominiumized, not sure if that is an option for you or not but it looks like it will be an option soon.

Indiana is a great state for rental property. 

Under contract on two out of state single family rental homes.

I've lost count of how many properties they have across multiple states but they're running businesses.

Hi Yiyi...Are you open to looking out of state?

But I'm new to all of this, so what do I know :)Can I ask briefly about rates for other states?

That alone is a great rarity in this state.