I would be interested in companies that offer such a service for out-of-state investors as well.I'm currently looking for BRRRR deals but the numbers in my market don't work for them.I'd consider a service like this while I build my team and boots on the ground in another market.

The mechanism is that you do a 1031 exchange and take $250K of boot out. 

I aim to find boots on the ground as I will be virtually wholesaling from Houston, TX.

You will still have to manage the details and pick out finishes and cut checks and have communication with your boots on the ground that is checking on things.

You would definitely need to get out here and get boots on the ground and build relationships. 

As @Bob Okenwa and @Bob Stevens mentioned, your boots on the ground are critical--it can't be done without them, so find a good team and pay them well. 

I will simply be reflected as "boot" on your settlement statement and you will pay tax on only that portion.  

This leaves me with a boot of $30k.

Flipping is an option for us, but not until we know the neighborhood and have solid boots on the ground.We too love the stock of housing and improving neighborhoods , but will take only smart risks. 

How do you calculate tax on a  1031 Boot?