If you're new to investing, I would suggest you meet other investors at one of the 2 Investors groups here in town: REIA (Real Estate Investors Association) or PIN (Property Investors Network).

Then the town tax is similar. 

It needed a lot of work but nowadays that's unheard of here in KC (other than the worst parts of town and even then it's cheap).

@Aaron Gordy hopefully all the NEW money pouring into town can share some of it with the local restaurants and bars that got walloped from COVID closures.

Assess the convenience of any potential investment property by considering typical walks to class, libraries, or—if applicable to your town—a downtown area (think shops, restaurants, or bars).Don’t expect tenants to sign long-term leases.Considering that the majority of renters will be students, tenant turnover will be high—undergraduates especially tend to change housing year to year, meaning renters who are willing to sign a lease over one year will be few and far-between.Instead, encourage lease “pass-downs”.One main concern in real estate investing is vacancies—a valid concern, especially in a college town, where the rental off-season between semesters will deplete the prospective rental pool.

Online platforms such as BiggerPockets and Fundrise make it easier for out-of-town investors to buy real estate in smaller cities across the U.S., said John Burns of California-based John Burns Real Estate Consulting.Often, Mr.

I'd focus on areas that already have ordinances that officially allow them, like Wheat Ridge, Arvada, Littleton/Highlands Ranch, Jefferson County, many mountain/ski towns, etc. or just go with medium-term instead of short term. 

Its been hard finding cash buyers in a town of 1500 residents.

In many college towns the houses have to be licensed to be student housing.

Managing long distance isn't really that different from managing in town if you are not using a management company.