I don't make a distinction and I have been doing this 15 years.

I would note that while you may find similar properties in each of "Dutchtown/South Hampton/Princeton Heights/Holly Hills" on average those are rather distinct areas with different property types, prices, tenants, expenses, etc.

So you're looking at Norfolk VA (three distinct bases), San Diego CA (four bases), Jacksonville FL (three bases), Groton/New London CT (large submarine base), maybe Newport RI (officer training base with many long-term service schools), maybe Pearl Harbor HI (joint base but in Hawaii), maybe Bremerton/Bangor WA (not as many ships or submarines but homeport to one aircraft carrier).Another consideration is what the mission of the base is and who are the personnel most likely to work on that base.

Also first time I’ve heard that distinction in the tool sets so appreciate the perspective.

This principle simply supports for separating a computer program into distinct sections such that each section addresses a separate concern.Keeping your RE investment finances apart from your personal finances may be beneficial.

The other point we talk about in the webinar was the distinctions for the three classes A, B and C in comparison to stocks. 

It is possible to get other low down payment mortgages that are non-FHA which often have several distinct advantages--one of which being the ability to drop PMI (private mortgage insurance) after hitting the required LTV.

But if you converted those three units then in the eyes of the IRS you would own three distinct pieces of real estate. 

Then you can make that distinction.

As far as I can see, this has some distinct challenges that I need help overcoming:1) Investing in a market that is a 3 hour drive from where I live2) Networking and building a good team at a distance3) Identifying good deals remotely4) Securing funding5) Doing all of this with no experience in real estate and a lot of lessons to learn(Of note, I have already read Long Distance Investing by David)I'm looking for any advice, recommendations, contacts, or lessons learned from those who have gone before me, particularly those in the VB area.Thanks in advance for any help and time you can give me!