That content and similar content out there sets unrealistic expectations that anyone can put together their "team" and invest in distant markets.

If we purchased now and took a few months to get it all set up, we wonder if that would be too late???

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

I would say get connected with a local agent and also set up with a lender that has you pre approved to make it super easy making offers.

So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

Once it’s set up, though, payments tend to come like clockwork, which is one of the biggest perks.That said, it's important to remember that rent isn’t necessarily guaranteed forever like a lot of folks assume.

For consulting with a CPA.As mentioned above you can simply take monthly distributions, but what is most important is how you are set up. 

Of course, everyone gets to set their expectations.

I'd also recommend finding an investor-focused agent in that market, sharing with them your buy criteria, and then having them set you up with an email list for properties that get listed. 

What are your long term goals (eg do you want to buy another house) and do you have a large savings set aside for unexpected expenses?