Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

If the payoff truly is a short sale than the seller needs to start that process.FYI - if they haven't already started the process for a short sale then most banks will require the property to be listed on MLS for a period of time to ensure they are getting the best offer.... again, make sure you have a realtor involved.If they have already started the process, then you should just need to get it in escrow and in reality, most of it will work itself out through the process.

Since my screening process is so difficult in a place where the vacancy rate is below 5%, I'm ensuring that doesn't happen much if at all.I may even find that my time spent on PM will actually go down due to technology advances despite increasing my portfolio.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

This strategy has free up my time and ensures all new investors get the same quality support that I would provide them. 

Absent this rule, buyer brokers would be paid by their clients and would compete to be retained by offering a lower commission.The Buyer Broker Commission Rule ensures that price competition among buyer brokers is restrained because the person retaining the buyer broker, the buyer, does not negotiate or pay his or her broker’s commission.

the Seller for their tax returns to verify that the cash flow claimed is accuratecurrent year's tax bill via the local assessor's officesecurity deposits & ensure that you get the correct security cash deposits at closingphysical inspection of every unitAre you going to do the property management or will you outsource?

I'm trying to make a bullet proof Independent Contractor Agreement and SOW to ensure the process goes smoothly for follow on jobs. 

You can also potentially loan your funds to a flipper that may be a better option but you'd need to ensure that it is a reputable flipper.Best!

Look carefully for Security Deposits and ensure the Deposits are transferred to you when the property closes.