@Seth Mattox it can be done from a distance, but I think the quality of service will be sub-par and it will take a lot of extra effort.

@Eric Fichera Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report.

I would say the quality of life here is high and so are the rents.

Hey David, as long as you flip the property it shouldn't affect your future purchase if for some reason you have to carry a loan on the property then that will affect your DTI which could potentially affect your future purchase.As for flipping, I think you are in a good spot because you and your Dad can do the work yourself, one of the hardest parts of investing in Real Estate is finding quality vendors and contractors.

Quote from @Andrew Steffens: At 65 doors it is quality control and managing guest expectations.Yesterday someone threw a fit we do not provide snacks as they checked in at 4am and were hungry... 

We don't drain after every guest (average stay is 2 nights) but we usually do at least once a week or if it shows any signs of bad quality water.

Once a tenant decides they like your property, it can take a little longer than a traditional rental because Section 8 requires a property inspection to ensure it meets their housing quality standards.

I know the quality of the home and neighborhood won't be the same in California, but because I'm targeting buy and hold, I just need a property with okay or decent rental yields.

And the quality of their services.. not all closers are created equal