Also rental rates are dropping, and we are already seeing rental loan rates in the 5% range, I would expect to see rental rates under 5% by January.If you are going to be a real estate investor for the long term, why don't have your Real Estate License?

I am willing to do a cash out refinance in the next few months.

I bring design and creative value in concert with cash equity to my homes and developments.

(yes, be honest... but I hope you like us ;) )  It can be long or short or whatever! 

My understanding is that a lower price to rent ratio may indicate a property’s ability to generate cash flow.  

You can advertise it yourself and see if youre able to get any potential tenants and once you do I'd advise for you to hire an attorney to draw up a lease agreement including your NNN terms. 

As someone else had mentioned, as long as you do not have a lease signed with them, you are good to be unapproved as there is nothing legally binding. 

Also, any suggestions on Long Distance Property management?

Speak to multiple lenders and see who can give you the most favorable terms and loan product.

While it may not be the best CoC that’s considered a solid long term investment cash flow by many.