I am in Texas which is a nondisclosure state, but should I choose a virtual market and not need the MLS access?

Normal monthly rents on 4brs are going for about $2000-2500 depending on where you are.

@Jenny Lian  depends on the state. 

Depending on how much of rehab you are planning to do to the property some it might be a wise decision to go out there and spend sometime and take care of those rehabs yourself before handing it out to a PM.

The answer depends upon how your entities (if any) are set up.

I also work in home remodeling/building and can put you in touch with the right contractors dependent on the area.Are you using somebody you have a relationship with or are you looking for a hard money lender to fund the deal? 

It depends on who services the 401K plan.

The rate is not really a factor when it comes to choosing the type of loan. 

The interest rate is between 7.95% and 9.95% depending on credit score.

If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well).