It might help to know if you are looking for an A, B, C or D, type of neighborhood.

In my C or Ds, I don't bother with it.

Even many PMCs are focused on Class A & B properties, so they're unlikely to be cost-efficient with Class C (or D) properties.

A lot like taking a bet on if the next person buying pull-tabs will hit, miss, and by how much. 

We've had a range of different class properties in our portfolio at different times and I can tell you that the experience of managing a Class A or B SFR in the Front Range is nothing compared to managing a Class C or D MF building, or even a SFR in a bad location. 

Is the rent I disburse to my in laws deductible on a schedule C or E so I'm not taxed on their portion of the rent received? 

And of course the quailty of the neihborhood and area will dictate this as well.. not many 700s want to live in C or D class

If you're going to go with an out of state market, go with an area that appreciates (no Class C or D areas).

I would appreciate people who can help me on what I do with this property.I had few conversations with them but did like what I was hearing and also they were focused class C or below grade areas.  

Sounds like you've got a Class C or D rental.We also use DAWGS, but makes showings more difficult.We prefer to:1) Yank the furnace & hot water tank2) Turn off water at street3) Turn off gas4) Have even had to cut electricity at the pole, due to squatters hot-wiring turned off electric meters.All this is done to make the property unappealing to thieves & squatters.