Sounds like you've started your research on OOS investing, but the single best piece of advice I can give you is to establish a trusted investor-friendly agent who will be your boots on the ground once you decide which market you want to target.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Case law is well established differentiation between a loan assumption, and a subject to purchase.Fraud can be charged if the purchaser has not fully disclosed intent and circumstance to the seller, as well as the other way around.  

Joint ventures can be a win-win situation for real estate investors and private lenders, but success hinges on trust, clarity, and mutual respect.

You will be able to find great and helpful information here.I would recommend that you look at markets that are not as established and showing strong population and job growth. 

You want enough so that a potential law suit would go away if the insurance paid out.Best thing is to highly maintain your property and treat guests with respect so that no one would ever want to sue you.

That time could have been spent working with a committed client that is not only looking for the best terms, but is also looking to establish a long term lending partnership.

You want a manager who respects that this is your asset, not theirs, and keeps you in the loop.

This establishes the legitimacy of the arrangement and protects against audit risks.

Building a social media following is one way to generate name recognition and to start establishing yourself as an expert in your field.