It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

For the mixed-use building idea, you’re right to be cautious about vacancies as a remote investor.

Since you can't control the sale price, you basically have a $4k cushion to your reno costs, or otherwise you lose money compared to the as-is scenario.

We still find buyers (and renters) that like open to a degree but want / need the office space for remote or hybrid work arrangements.When dealing with a market that does not have huge spreads on properties, one needs to define what is really important versus what is nice to have and see if the math works. 

We still manage but we can, and at times do it all remotely, all while having a mortgage on ALL of the properties.  

Assets identified in this study include:Appliances: Dishwasher, microwave, oven refrigeratorInterior Finishes: countertopsFurniture and Fixtures: shelving, built in cabinetry and decorative light fixturesSpecialized Equipment: Electrical systems and specialized wiringHVAC controls and specialized components63.6% of the total depreciable basis was classified as 39-year class life.

Not sure how you believe they could control their cash flow. 

Worrying everyday about getting fired for something out of your control?

Sellers tend to like to finance because it gives them control over when, and how much capital gains flow in and when and how much the balloon payment will be.

Everything is harder when you do it remote, but you are competing with local investors.