Many states will require you to register the LLC as a foreign entity if you want to hold property in that state, and may require you have a local registered agent. 

Along with things like DST, 1031 exchanges, wholeselling, syndication, buying tax liens, court house step auctions,  the list goes.

Also, we are planning on a 1031 exchange to supply the down payment! 

Just closed today and set it up as a 1031 exchange.

The management company I partner with takes 20% of rental revenue in exchange for all of the bookings, marketing, cleaning, preventative maintenance on mechanicals, etc. 

I am also new to investing and looking to bring some kind of value to the table for someone in exchange for some experience.If you ever want to chat about my city let me know.

Now the level of risk and crime will of course vary by neighborhood so you've got to balance out the level of risk you want to take on in exchange for the amount of money you are willing to pay for a property.

Using a 1031 exchange would be a good option to explore if you do want to go that route.

Bottom line, bring them some sort of value and in exchange see if you can pick their brain on how they got started, their processes, etc.

I'm going with Vampires because I can deal with blood messes in exchange for eternal vacancy.