That renovate, re-fi strategy isn't new. 

While the cost of entry might be a bit higher, I truly believe there's still plenty of potential for property appreciation.My focus is primarily on single-family homes with a long-term hold and rental strategy in mind.

Great purchase price and value, excellent location, planned exit strategy.

I do get it's a strategy, and it may work, I just don't love it honestlyA 401k is hard to beat - I'm saving 32% right off the top (already hard to beat that return in RE), my employer is matching 5% (free money), the money that's not taxed now is now growing in my 401k.

What are some of the best real estate low risk strategies investing long distance/ Out of state that can produce reoccurring income?

Additionally, does anyone have strategies or advice on how to confirm that the reported rent is actually being collected as stated?

Any property with any interest rate and any cap rate can still have enormous upside with a value add strategy.

Also, I'm not sure how your numbers work out..Take a look at my post here, being a real life example why selling CAN BE much more cost effective than re-renting your personal residence:  https://www.biggerpockets.com/forums/48/topics/1169308-equit...I personally wouldn't have a rental with a pool because of the liability.As far as reinvestment, that depends on you strategy and goals. 

In this blog post, we emphasize the significance of selecting the right property investment strategy.

There is definitely no need to hire an attorney.We have also used lots of different strategies to get people to leave our properties before eviction hits their records.