In the end, you have to decide the cost / benefit / risk / reward of doing one makes sense in your situation.COST - You have outlined some of the costs, but not all. 

Question for any and all.. we have had trouble finding a real estate investor friendly CPA, one that proactively wants to help us learn and obtain all the tax rewards with real estate. 

To me the rewards do not come close to outweighing the negatives in this situation.

First of all, congrats on taking the leap into vacation property investing—it’s such an exciting journey, and I promise, with the right guidance, it can be incredibly rewarding!

I love a risk if it means a reward. we’d love to buy a rental in our future home state but recognize the complexities of that.

With reward, there are always risks involved.

And with triple-net properties, if the tenant doesn’t renew at the end of the lease, investors can suddenly be stuck with an underperforming asset.That said, with the right education, partnerships, and risk management strategies, even these “dangerous” investments can be highly rewarding.

Many I have seen have more of a Reward over Risk thought process, get $ quick mindset basically but don't realize the risk, time constantly following up and sleepless nights wondering and waiting all for a small fee. 

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

What I can share is that the risk-reward will not be worth it as a 'newbie' due to your limited capital and inability to actively manage your properties.