Just finished reading David Greene’s book Long- Distance Real Estate Investing  , which I highly recommend. 

Purchase price: $522,250 Cash invested: $233,200 14 boutique style hotel rooms, bar and restaurant, Live Performance Venue, Pool and Gift shop.

@John Elias You don't have to always choose a turnkey company if you want to invest out of state; just ask @David Greene and read his book.

There are many hidden ones on the mls that are overlooked with wet bars that can be converted or in an area that can be rezoned duplex. 

David Greene points out you should look for population growth, job growth (and what kind of jobs), vacancy rate, average income, and building/construction permits.  

Big pipe (monkey) wrenches, with a breaker bar, go slow, then install the new ones with the white pipe dope you can buy at the big box store. 

Your yard is nice and green, so I'd avoid green.

No red lights, quiet streets, a ghost town of a downtown made up of a few dive bars and abandoned buildings.

I lay it out on my screen and color coordinate whether or not the full lease payment has been made, who made their payments, Green is Good, Red is Bad, The Dates may be in Blue if the payment has been scheduled but has not been deposited just yet because of the 3 business day gap, etc.When I started using Electronic Rent Collection, the one problem I had with doing it this way is make sure that the service deposits what they say they will deposit in the right bank account.

Or you would have to have them find something with like a wet bar that they could convert.