If you do decide to waste your time on this flake, write it up & remember what those on BP told you :)

If your goal is to minimize chaos, go with whichever option allows you to include a property manager in your budget. 

Real suggestions on how to minimize or eliminate taxes.Also the cost needs to be reasonable. 

As the investor/middleman in a sandwich lease your goal is to control the property with minimal cash out-of-pocket. 

You could contact a local reputable commercial broker and determine if this property truly has value but do not waste their time, if they help you then give them the listing to lease the property if you end up purchasing. 

No theft, minimal liability, minimal valuation.      

If you don't want to be in the business, sell the house(s) and don't waste your money on property management and outdated concepts that add nothing to your value or income.

It (like all marketing methods) can be a waste of money if you're not consistent. 

Don't want to waste your time.

Although i believe if you're completely new and plan on contracting out most of the work, its more important to study the areas, network and vet your people than to worry about the WHERE - theres certainly upsides for focussing solely on markets outside your own, its certainly doable and a lot of people do it, even (or maybe especially) when your starting out, the added risk can be minimized and downsides you cant eliminate may be worth the upsides.