Sorry, I'm way too big of a noob to offer any advice, but your post caught my eye. 

(In my eyes a PM should do everything to manage that property and not put any of the stress on the owner)

We have a new apartment listing at my office and I have my eyes on a couple that are currently listed on public sites as well.

If you think it will not have a significant affect on your utilities then install free machines.My tenants in a nice neighborhood love our new laundry room and they don't bat an eye at $2 a wash and $2 a dry.

Distance: We are 2 hours away and will not be available to keep an eye on the day-to-day construction work.

That's what we basically look at in larger loans, investors need to be aware of the big picture and keep an eye on their accumulation of debt, you have to to succeed. :)      

So lending will be harder (worse terms) but those can change as you gain experience in the eyes of underwriters and banks/CU’s.2.

@Suetuko Emem Ekpo-Ufot Keep your eye on the ball.

Also, most HMLs will tell you if the deal makes sense so you get an extra set of eyes analyzing the property. 

I’m hoping to fly under the radar, or just as importantly, have the lender turn a blind eye.