If you are financing yourself or using a loan- it is crucial that you complete the project in a timely manner.

While you did point out the negative aspects of a deal like this, you didn't really highlight the pros on the RE side and future investment, appreciation etc.I’ve done two of these projects in the past 3 years in SoCal.

The construction aspect of it, which many banks have swayed away from is the main piece you're going to be looking to find. 

Establishing a good local team will be crucial for you. 

My goal is to achieve financial freedom by age 36 and to understand various aspects such as investing education, strategies, business planning, properties, marketing, and exit strategies.

If you’re serious about this aspect of real estate and you have the time/money to invest into your education, I would strongly recommend Raisemasters as a quality mastermind to join. 

I bought a single family because I thought I could house hack in the same way as a duplex and in ways it certainly could have and did work but I didn't expect the relational aspects of having people living in a property I purchased.

While I’m not an expert on the legal aspects of posting here, I do have years of experience coaching students in real estate sales and investing.For anyone getting started in real estate, I always emphasize the importance of focusing on key steps before committing to a deal.

The fresh perspective from someone outside of my network is crucial, that way my expectations can be closer to reality if I decide to reach out to new contacts for this opportunity. 

Your plan to handle the strategic aspects remotely while a property manager handles onsite issues is smart, and as long as you log your work and stay hands-on, you’ll likely qualify for active status.