The advantages of being local should not be overlooked and the disadvantages of being far away should not be overlooked.  

Being a single 32 year old woman who is not well versed in the world of construction has definitely put me at a disadvantage of knowing the industry and how it operates.

There may actually be some disadvantages from doing so such as the cost to establish a business entity, ability to leverage equity now that it is an entity, ability to get insurance now that it is an entity, transferring ownership from your name to that of the entity, and also it will probably make doing taxes more difficult or costly.  

There are some disadvantages of having a Single Member LLC..check this article.

I see some pretty bad things in my line of work, and I don't need a house bad enough to take undue advantage of another person, especially if they are at a disadvantage. 

Since you cannot proceed to evict or market (effectively) without confirming title, you're disadvantaged by the response (or lack of) by the foreclosure firm.

The buyer has an agent and you don't which is a huge disadvantage.

The disadvantages are that it needs management and a lot of education to be successful.

What are the advantages/disadvantages of doing this, as opposed to applying for an Investment Loan and being able to rent the property from day 1.I actually have a lot more questions, but I wanna keep it simple for now :)Thanks everyone!!!!

There are advantages and disadvantages to getting your real estate license as an investor.