I'm not an attorney, but your information appears faulty:https://law.justia.com/codes/arkansas/2010/title-4/subtitle-3/chapter-27/subchapter-15/t/4-27-1501

She also provided ideal zip codes of where to purchase properties.  

Roof first if it is near the end of its useful life.Siding I would also look at for weatherproofing (wind driven rain could also rot your building).Once it is water tight, I would start on any code issues (see inspector mention), then maybe on to kitchen. 

I'll second @Chad Lopes regarding hiring a PM, since managing a rental from another state can be tricky for even experienced investors.I wrote a post a while back about the zip codes we like for our B/B+ (and sometimes A if we can score a deal) investments, so perhaps that would be helpful to you:  https://www.biggerpockets.com/forums/311/topics/22…As with most markets, Bham can change block to block, so it behooves you to visit the market and meet the people you'd be working with (whether turnkey or a self-assembled team of agent, contractor, PM etc) face to face.

Here's just a couple reasons that is: 1) MT has building codes, permits, inspectors, the whole bit.

No matter where you are, you can do a lot of research on ZIP codes, finding the houses that meet your criteria. 

What zip codes would meet the criteria described above?

Tax is so broad that it's imperative to have a CPA very knowledgeable with the tax codes.

Do both - go to the meetups and REIAs and find out what the buying level is (some buy at 70% ARV, some go even higher, some need to be at 60 or 65%), learn a target market (perhaps the zip code you live in) and start marketing to it.  

If your house is SAFE and up to code, you should be fine.