It sounds like remote is challenging, but much of that challenge can be mitigated if I "splurge" a bit on (and am hyper critical when choosing) the PM.

One additional consideration that I find to be critical in the real estate business and will make you stand out in the crowd.

Nearly everybody will tell you that education is critical for getting started (and for everything afterwards, too).

Yes immediate repairs critical to the operation of the property that should have been made long ago or need to be made now come off the purchase price.Ongoing capex which is the roof needs to be replaced 5 years from now etc. is built into the 60% costs versus the inspector saying the roof is failing now and you will need to replace it immediately upon purchase.

What you would if you were us.All suggestions and critics will be highly appreciated.

You need to analyze sales, listings, rents, demographics, trends etc.The more you know, the quicker you can analyze a good deal or a bad deal, and make critical decisions, and take advantage of opportunities.

Similar to buying any type of rental property it is critical to educate yourself to the area and from my opinion go there and get some "boots on the ground."

Pricing is critical.

How critical is popularity such as votes, mentions, and connections?

I welcome feedback, suggestions, comments, even critical feedback, as no one knows everything, and I fins value in everyone's input (even the beginner, who might see things differently with a "fresh set of eyes."