Start small with manageable deals, educate yourself continuously, and build a strong network and team to support your growth.

The only reason he did it was because it led to additional work.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

It turned out this was his first time appraising one.

Building a team is something after you build the skills yourself, then teach them to other people to leverage more and more.

I would send it certified so they have to sign for it. 

They said they'd do it through a title company if I didn't trust them, but they really needed the 2% fee to get everything rolling for the loan.

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.

What I would do is talk to the neighbor and mention that the fence looks like crap and I am willing to replace it on my dime .