Coming off Podcast 66 or so with J Scott who said he strictly advises against it and suggests you spend 50% of your time in the new market for 4-6 months.

A strict vetting process is the best way to prevent nightmare tenants.

Strictly for experience, I recently started rehabbing rent readies for a few local property managers and over 6 months we've been able to create a pretty good process to help property managers get the homes from empty to rented faster.  

Strictly an investment property.  

For example, Garland has a $40 annual rental fee, they have strict requirements for landlords and would be worth a home inspection + rental compliance.More than just the property, the paperwork and timing of demands can be just as expensive for landlords.

This is especially true if your local township is strict like the ones here in Chicago.

@Nate Wentworth There is another meetup for strictly networking with Real Estate Investment people.

As @Matthew Paul suggests, can you just buy another property that is strictly an investment? 

What are you goals with the property, strictly cash flow? 

Rent control is strictly a local option.