Hey welcome to BP Elyse,I recommend you decide what your goals in real estate are, and then use these as a compass when you're making investment decisions.As to OOS investing I would first find a market that showing signs of potential market growth.

Purchase price: $275,000 Cash invested: $294,000 Seller was behind on pay HOA payments and in risk for losing the property.

Consider factors such as the purchase price, condition of the property, rental income potential, expenses, and potential return on investment.

There are some great forum threads for questions to ask your potential property manager that be quite helpful in deciding. 

This entails furnishing bank statements reflecting ample cash reserves to cover the property purchase and potential rehabilitation costs to get the project started.

ADUs and their income potential are a hot trend right now in real estate investing and as usual, the conventional lenders (FHA etc) are going to be slower to adapt

Second, there are risks with double closes and that's why title co's and investors are not doing them as much as they used to.

You will meet people in your area that you can potentially partner with.

the property was tired, needed revitalizing and had huge upside equity & income potential How did you find this deal and how did you negotiate it?

@Adam Marx Unfortunatley, most wholesalers won't allow any inspection period or contingency, that's kind of the risk of buying from them, but the benefit of getting a property under market value and without much competition.