Also, what are the physical requirements I need to have in-place? 

Builders risk for physical property?

These are just normal operating costs, not even getting into when things go sideways (which they tend to you when dealing with the human element combined with physical property that is constantly deteriorating).

MANY people view a deal as a physically distressed property, but I view it as ANY kind of distress a seller might have as long as its something I can cope with.

If you can stomach his brash and boisterous attitude, he preaches in his books that owning your primary residence is a “trap” and that money is better put to use in buying investment properties and renting where you physically live.

Town says I will need to install them but If I am reading code correctly it should only apply to new construction buildings over 4 units. https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXX/Chapter148/Section26iThey also don't seem to give specifics on what "substantially renovated is" But a court case ruling gave this clarification: “… in order to require the installation of sprinklers in an existing multi-unit residential building, the rehabilitation must be so substantial that the physical structure is rendered ‘the equivalent of new construction,’ i.e., in essence as good as new.

Even if you or the Investor is licensed, does the insurance carrier associated with the License approve of this remote arrangement where neither of you are capable of being physically on site without a minimum of a 2 hour drive?

Builders risk for physical property?

How does BNB Leverage help you for sudden things you have to physically attend? 

I believe it's very helpful to get the hands in experience, see things in person and physically drive to the property.