I'm a little nervous since bank will ask for Financial Statements, Balance Sheet ect. and I haven't hired a bookkeeper or have an accountant as of yet.

I'd be happy to chat about some considerations and questions to ask any syndication lawyer before you hire them!

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

You will need a manager (you will have to find and hire them) that you can totally trust - you won't be there to check in, so they have to be honest, or you'll risk it all. 

@Philip Marzen I live in Wilmington and invest in New Castle County, as well as Delaware County, PA. 

If you don't have an accountant, you may want to hire one or atleast get one to give you a consultation.

You may want to hire someone to consult with to make sure you are doing everything correctly.The issues that I normally catch are people not properly allocating expenses to business and personal.For example, mortgage interest will likely be split between personal(part where you live) and business(area where tenant live).Furthermore, I often see people deducting the full mortgage payment when only the payment to mortgage interest / real estate taxes are deductible.best of luck!

Call as many phone numbers as you can get your hands on and hire based on vibe.

Renting our our carpet cleaner for the day may be best bet I have used rental cleaners (Rug Doctor), own my own cleaner (Bissell) and hire cleaners (steam van type).

Very time consuming unless you can afford to hire a bird dog or 2 to do it for you.