But if you must, you'll need a good local manager for sure.

Joining local meetups, online forums, and social media groups can offer valuable insights and opportunities.

I am making this post for anyone local to NWA to comment and potentially meet up with, so lets go grab some coffee sometime!

Do you invest locally in Missouri? 

You will even get it in writing (he does all his training orally using slides and at least we didn't get a copy of any material, so you have to take notes and pictures to keep up).Invest those 20k, 30k or 50k into a property, whether it is rehabbing and fliping, BRRRR-ing, or hacking, and network with local (from Dallas, not Austin) REI, realtors, loaners, etc. which you can find here and in the REI meetups.

Plus, we use local banks so to get access to the equity is not hard if we need it. 

As an out of state investor, I need some local insight.

You would need to consult with a (local) lender to see what is available to you for that property, but I am assuming 20-30%.You would likely have 2 options with that property - 3 2 bedroom unit listings, or 1 6 bedroom listing. 

@Scott Melde You may want to check with local mobile home dealerships and real estate agents who specialize in this niche.

Meet some others locally and see what they are doing.