You can use this tool to figure out that part: https://docs.google.com/document/d/100dRzu-iQEIZbR1adxIASdH2...Once you have that you should engage a local broker to discuss the options for those types of uses in your market and they will be able to help you understand the overall picture and cap rates of the various options.

A few years ago, I made the decision to invest in my first turnkey property out of state, hoping for a solid investment.

I think I understand a few of the reasons why (and I'm sure there are many others), but I was curious if anyone is actually making it work.

I do understand your given scenario as I have been in contract with 2 properties in Daytona beach, FL in which I ended up pulling out after inspections but insurance was an added factor as well. 

Continue to refine your understanding of the market.

As an investor it’s helpful to understand what tax structures are indexed to property ownership vs other vehicles like sales tax, corporate taxes, mineral royalties, etc.

There is alot to read here on lending issues, you need to understand that as a lender your interest in the collateral will always be as a lender and not an owner unless your borrower gives you the deed to cancel the debtThe best place for a new lender to start, IMO, is not in making seconds as gap financing but as a transactional lender, funding closings and getting your money immediately in compliance with any usuary law that may apply. :)

If the house was occupied, I would definitely be concerned about bothering tenants but if it's vacant that's a non factor.I understand both sides, but you should be able to go see it again as part of your due diligence

I understand its a rental populated area, more a pass-through kind of county.

I started off with a duplex in 2020 and now have a solid portfolio of rentals with my partner.