If you have an issue with that, or are long distance, hiring a property manager is a must.

., the 2006 or 2009 IECC — International Energy Conservation Code).Cost Considerations for a 90-unit or 112-unit Project:The actual cost of qualifying for the 45L tax credit depends on various factors, including:Energy Efficiency Compliance: The primary cost will come from ensuring that each unit meets the required energy efficiency standards, which typically involve energy modeling, certification from third-party energy raters, and potentially upgrading insulation, HVAC systems, windows, and other components of the building to meet the necessary performance levels.Energy Modeling: Typically, you'll need to pay for an energy consultant or engineer to model the building's energy performance and ensure it qualifies for the credit.

Detroit would be a solid option if you're strategy involves a little more risk for potentially higher cash flow. 

Legal and Regulatory HurdlesReal estate transactions involve legal complexities that can overwhelm newcomers.Solution: Learn about legal requirements early on and seek professional advice when needed.

That may or may not involve a trust. 

Bigger Pockets is a great place to learn and connect with fellow investors.If you’re looking to invest long distance, I definitely recommend building your core-4 team.

I'm involved in too many things, but that's what happens when you have a family and kids to support.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Plenty of opportunity within driving distance. 

Obviously there is risk involved (as with anything).