First time out of state investment property (Marietta, GA)

[Allison Jones]

Hello BP Family, I've been absent from BP for a while and just investing in my own markets for the last 5 years. We haven't purchased any investment properties within the last 2yrs, but we have tried, and they just didn't work out. I do have a closing scheduled for a commercial property next week.   My husband and I have 21 doors and primarily duplexes. We concentrate on cash flow.  We live in a small town, and I have my own subs, handymen and cleaners that can help me with our properties.  It's a smooth and easy process. 

My son will be attending college in Marietta, GA this fall so we wanted to purchase a duplex. We will be renting out rooms to other students and my son will help manage this rental.  We just flew down to Marietta, GA on Friday and had our offer accepted Friday afternoon.  We had our inspection on Saturday morning. All went well but there is a lot of rehab work that needs to be done.  

Questions

1. Our community bank doesn't loan money out of state. Should we leverage other properties to finance this out-of-town duplex?

2. Try to do a conventional loan and finance it for 30 yrs with my son on the loan? 

3. Find another lender in the area?

4. How do you find good contractors?  

Thanks in advance, 

Allison