The issue is that if I choose to invest in LTRs not in Coastal Carolina, I lose the ability to monitor and check in on the property without a very long commute.

If you have a good plumber, electrician and appliance guy in the area you can handle most reparirs through them.If you must hire a property manager, I would get lots of referrals and check them out very thoroughly.  

You are going to get all kinds of advice; I will leave you with this.

@Mike Calvey I can't say strong enough how flawed and WRONG of an action UNDER-pricing rent's is to "get a good tenant", it's ALL-kinds of wrong. 

Check out Taxes and Books. at www.taxesandbooks.comhighly recommend

Closing cost's $, and a seller with half a wit is going to want some kind of representation to know this ya-ho saying there "A CA$H BUYER" isn't working to rip em off.

Check out the facebook group Irvington Neighbors - Indianapolis, Indiana. 

I found out and checked with them that my answer was right and the answer was unashamedly "you're the first who found out!".

Do you know any attorneys that are facilitating these kinds of transactions?

I'll definitely be checking out that YouTube video.