Are there any markets you would recommend for long distance investing?

I would not recommend this service at all.  

@Pat Aboukhaled can you recommend one of those investor meetups that you think would be good for a newbie like me?

If it’s doable financially I’d recommend the duplex.

It's hard to give any recommendations without any specific questions/real numbers.

Can anyone recommend hard money lenders who specialize in working with first-time investors?

The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!

@Carl RowlesI recommend a HELOC or Heloan on your primary residence or the rental if you have enough equity in either.

Start by asking for recommendations from local real estate groups, Facebook community pages, or other landlords in the area—they’re often the best source.What do you think about getting a good referral from a good property manager?

We recommend RentRedi for tenant and lease management.