This would be a worst case scenario, because like you I am not comfortable with managing a property from halfway around the world and plane tickets are astronomical.

There are plenty of people with expense bills that are astronomical.  

Also the fact that I don't need to go into the metroplex for work is a HUGE bonus.Thanks @Michael Tripp yes we have seen some astronomical appreciation here, Our first home appreciated about 100K in 2 years without touching a thing except painting the exterior, I don't expect that appreciation in Texas.

We're based in Santa Cruz, by the way, where housing prices are astronomical.

I live in the outskirts of LA county where prices aren't astronomical ($160/sqft). 

. $40K in a decent neighborhood with $1100/mo rental value.I'm sure some of these require work that would reduce that, but it still seems an astronomically high return.

------------------------------------the number is astronomical just to add addition and asphalt to gravel driveway on a commercial lot5.

Hello Everyone, Since I live (rent) and work in South Orange County CA, buying my first investment property in this area is very much out of bounds for me given the astronomical prices.

just looking some try to estimate a few things would it be just a few higher like 500 or are the old ones astronomically higher like $1000 or more? 

I wanted to get some opinions on buy/hold/rent with a condo.Let me set it up:  CT is really turning into a renters market, so much that the going rents are astronomical...and people are paying it.