Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks? 

Hey David, you should consider investing long distance only if you're willing to put in the legwork of market research and networking to build a strong team of property managers, contractors, and deal finders.

Try it out first test out whether or not you two are a good fit before building a massive portfolio together.Create an operating agreement for your LLC, and create a partnership agreement, defining roles and expectations.

If your home is newer, requires little maintenance, and doesn't experience a vacancy for at least 12 months, your $300 cash flow can build up a tidy reserve to get you through.

My goals are to start building an investment portfolio of professionally managed (I could tell you all the reasons I will not do it myself) multi-family properties and, in time, develop a property in the Northwoods (Wisconsin/UP).

Deals like this are NOT GOOD for any of us in the industry it makes it more difficult for us to raise money for projects.

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

Build with steel. 

I’ll definitely make that a priority as I build my team.I also appreciate your point about using different contractors based on the scope of work.

Pace is a brilliant guy- he identified a need and is building a “solution network”.