How will you mitigate resident disputes?

If you have pipes freeze, it's important to thaw them carefully to mitigate damage.

I would say OOS investing is worth it as long as you mitigate your risks.

If you're looking to potentially do some major renovations to those homes, you will likely need to account for some type of asbestos mitigation. 

“How To Manage & Mitigate Home Repairs For Investment Properties” by By Justin M.

This is a danger to scavenging animals.

Insurance thoughts - see if your family member has 1) Florida Wind Mitigation(in last 5 years) and 2) 4 Point inspection (preferably in last 6 months) and 3) Elevation Certificate (not matter age) or flood policy if they have one.

street just way to dangerous for me regardless of using it for work or not ..

In the end, they may take away your highly dangerous bottle of shampoo or calculate some extra tax, and then you're free to go. 

This coinvestment is what mitigates the risk of the other party taking risks that could be a detriment to the investor.