@Paul PompeoInvesting out of state can be a good option if your local market isn't a good fit.

However, there are some general guidelines and considerations that landlords typically follow:Check local laws: Different regions have different laws regarding rent increases.

Typically, the seller wants it done fast and cheap, which often does not equate to the quality you would look for as the owner.But, it is possible he wants to do the work because he has top quality contractors that will do the work well and for less money than you could yourself.  

Of course, with the key entry option so if the lock fails, there is a lockbox with a key to access the home.

If a commercial property such as 9+ residential units (such as an apartment building) or not residential, the below doesn't apply. 9+ units typically take extra expenses into consideration such as management fees, utilities, etc. 

Once we jump over our ethical / pro standard hurdles, it is up to the client to pick between Option A and Option B.Find someone that is aligned with this way of thinking, and that you can have open and free communication with.

Out of state you can have more variety of options on price and strategy. 

I have bought properties by signing a lease option where I took control over the property, made the needed repairs, and then got it financed to cover my cost and what I owed.

I was considering a 3 year lease to own option with a balloon payment at 3 years.

Typically that's the roll of a business broker vs real estate agent, although sometimes one person does both.