OOS investing strategy question
Question on OOS investing sttategy and doing your due diligence....
Background: I am based in California and have been doing P/T REI for about 6 years. I have 4 buy and hold SFR and 1 vacation rental. In this time I have done 2 successful flips. With this strategy I have grown my equity around 500k. With the California market the way it is I am planning to sell two of my rentals that are equity heavy and cash flow light and buy OOS in search of better cash flow.
Question: I am quite interested in a property that I have found for $175k that has 7 units and generates approx 3200 / month in stable rents. I plan on putting as little down as possible ( no history with commercial loans) and financing the rest. The agent has sent me the last three years balance sheets showing me rent collected , maintenance, taxes, utilities ect. and disclosures. The biggest issue I have is that there are no pictures to go on besides the 1 that is in the listing. How do you OOS investors go about doing your Homework on the overall condition of a property? Do you request video? Hire a PM company to walk through? Pay for a 3rd party inspection?
I would love to hear any and all advice about my decision to change my strategy as well as to solve my OOS investing roadblock. Thanks