I know that it makes no sense at all; millions of businesses practice across state lines and beyond. 

You've got many practical strategies here @Bob DoleIn my honest remarks, I also had the same advantage in my passive rental income.

Any recommendations on best practices for writing up the lease (1 lease for the house or individual leases?).

I've worked in marketing at a real estate company for years, so I'm very familiar with formulas for calculating offers when wholesaling houses, but would love to hear best practices for determining offer prices for land.

I'm also a self managing property owner of approximately 30 units for over the last 6 years, what you said checks with my experience and practices. 

One practical move this week is to underwrite one Fresno deal and one Indiana deal side by side using conservative assumptions and see which one truly supports your one door every year or two plan.Are you more focused on keeping things local for control or maximizing cash flow even if it means building a team out of state, and would you be using equity from your paid off home or starting fresh with leverage?

In practice, a manager can handle day-to-day execution (guest messaging, cleaners, routine issues), but the owner needs to perform and document meaningful owner-level work—pricing and policy decisions, vendor selection/oversight, approving repairs and invoices, listing strategy, bookkeeping/financial reviews, and compliance tasks—because if the manager logs more hours than you, the “100+ hours and more than anyone else” test becomes difficult.

Appreciate the practical knowledge. 

This version incorporates:- Value-add renovation underwriting- Dynamic rent and expense assumptions- Refinance logic and DSCR testing- A full 10-year proforma with key return metrics- Deal dashboard with key return metrics and indicators of successI’m attaching a screenshot of the inputs and dashboard page so you can get a sense of how it’s structured.For those actively underwriting multifamily deals, I’d be interested to hear:What do you wish most models handled better in practice?

do their taxes incorrectly and don't get caught, and what you wrote may be the practical reality of what people do.