In some cases. Real estate is not something you can do hands off management of. Historic attempts to outsource have tended to fail because it is really easy for management companies to say something needs more work than it really does and drain all the profits. As such if you know a property in a different city is going to go up the smart things to do is buy it and leave it empty while paying taxes - this is cheaper than fixing the roof, risking bad tenants and all the other things that a long term investment requires. This really only works if you hold for only a couple years though, otherwise the taxes/interest will eat your profit.

Note that the above limitations also limit how much can be invested this way. Most property won't go up by enough to be worth the investment costs.