Out-of-State Investor Checklist

Define your strategy (BRRRR, flip, buy & hold, etc.)

Set your cash-on-cash return threshold

Set your maximum purchase price range

Research 3-5 target metros using population growth, job growth, and rent-to-price ratios

Compare zip codes within each metro using heatmaps and market grades

Identify landlord-friendly vs. tenant-friendly state regulations

Check property tax rates and insurance costs in target markets

Interview 2-3 property management companies (ask for current client references)

Identify an investor-friendly real estate agent active in your target zip codes

Get pre-qualified with a lender who funds your strategy in that state

Find a licensed contractor with rehab experience and verifiable references

Connect with a real estate attorney licensed in the target state

Find a CPA experienced in multi-state real estate tax returns

Get landlord insurance quotes from 2-3 carriers

Run the deal through at least two calculator scenarios (conservative and base case)

Verify rent comps with 3+ sources (Zillow, Rentometer, local PM, HUD FMR)

Confirm ARV with recent comps (sold within 6 months, within 0.5 miles)

Get a preliminary rehab estimate from your contractor (if value-add)

Confirm the property is in a zone that supports your rental strategy

Review the title history and any liens

Set up your entity (LLC) in the appropriate state

Get pre-approval letter from your lender

Transfer utilities and set up landlord accounts

Onboard your property manager with written expectations and reporting cadence

Set up separate banking for the property

Document the property condition (photos/video before any rehab)

Create your deal card in PocketSquad's pipeline for ongoing tracking

Schedule your first 30/60/90 day check-ins with your PM