To support my seller and seize a valuable opportunity, my business partner and I decided to purchase the property ourselves.

New people should learn to fix stuff, do leasing themselves and grind it out so they understand the business.   

- The market is in a little bit of a lull right now (buyers market), its a great time to buy, but slower time to sell (my primary business is flipping houses) I can supplement my flipping business by providing project management services/consulting, helping investors find discounted properties, etc. etc.

I don't have any specifics but as someone who is into tech, accounting/finance, and a consultant to grow businesses.

You're a business owner now nothing wrong with that.   

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

One of our favorite discoveries is that IT'S TRUE, dream opportunities DO land in your lap, the longer you're in business! 

I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.

cash flow is going to be found in tougher, niche strategies that are more like a business and less like a passive investment... and LTRs aren't all that passive sometimes either.the benefits to LTR real estate are... 

rates are high, prices are high, good PMs and contractors are booked up and busy, and it's very tough to find good deals.