Prop Hound
The Out-of-State Investing Checklist
What to line up before you buy somewhere you've never been. Many investors buy remotely. This is what replaces the local knowledge you'd otherwise have for free.
- Lined up a local agent who works with investors, not just homebuyers.
- Lined up a property manager, and called two of their current owner references.
- Confirmed the property manager actually covers this specific neighborhood, not just the metro.
- Got a real, current insurance quote for this exact property, not a regional estimate.
- Checked flood zone status directly instead of assuming. FEMA's own lookup tool: https://www.floodsmart.gov/flood-map-zone
- Got a video walkthrough, or had someone local view the property in person before I offered.
- Set up wire fraud precautions: confirmed closing instructions by phone, not by email alone.
- Checked this state's landlord-tenant law (see the Tenant-Friendly vs. Landlord-Friendly States checklist).
- Set up a way to collect rent and track expenses that doesn't require me to be there.
- Have a local contractor I can call for a second opinion on repair estimates.
How to use this checklist
Work through it top to bottom for the specific property or market you’re looking at, and don’t mark an item done until you’ve confirmed it yourself or heard it from someone you trust. If an item doesn’t apply, write down why, since the reason is often the thing you want to remember when you compare it against the next property. Keep your answers somewhere you can find them, such as a note per property. It is general information, not tax, legal or financial advice, so check anything high-stakes with a qualified professional. You can also print this page or get the PDF in the First-Time Investor Toolkit.
Longer read: Buying a rental property out of state.
More rental investing checklists
- The Market Selection Checklist
- Financing Options Rundown
- Tenant-Friendly vs. Landlord-Friendly States
- Canadians Investing in US Property Checklist
- The Deal Analysis Checklist
- The Property Walkthrough Checklist
- The Offer Submission Checklist
- Working With an Inspector
- Buying an Occupied Rental Checklist
- Closing Day Checklist
This checklist covers one step. We check new listings every night.
Prop Hound screens new rental listings in your market against your own numbers, so you only see the ones worth running a checklist like this on.