My holding company is in one state(S1), the LLC is in a different state(S2), and I manage these out of a third state(S3). 

I would suggest doing your first flip close to home as there is a lot to manage, especially time and that is compounded severely when you do it from a distance.

If you don't have a lot of experience cold calling or managing a team, I would recommend using one of the companies that already have a training program, they will hire and manage the VA's for you for a small per hour fee, well worth it. 

It’s all integrated and easy to manage from PC or mobile device.

I work for a Property Management company and have done it for years so I am not a rookie. 

There are many lazy owners, so it’s not uncommon to have missing contracts when dealing with self-managed property.

To start, these are the fundamental underwriting inputs the GP/Syndicator will be making when arriving at their offer price:Management Fees: This will be very similar to any other bidder who relies on 3rd party management (and generally more expensive than a local operator who benefits from the efficiency of managing an existing local portfolio).

@Gregory HerbertThis is why you use a property manager….I don’t want to be a pilot, a doctor, a plumber or a roofer - thus I hire them to do the job I need done.

Tenants would have to refill cards at the management office.

The area in your target country where you have a group of people dedicated to help you through acquisition and management of your rental trumps nearly every other consideration when trying to narrow down a location in my opinion.