To maintain control and avoid being locked into larger deals, consider directly owning replacement properties or exploring a partial 1031 exchange while carefully structuring syndication investments.This post does not create a CPA-Client relationship.

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It’s a balancing act of controlling costs while also controlling risk of personal injury to your tenants and property visitors as well as maintaining goodwill with all involved at the properties. 

If OP can lever-up while maintaining adequate reserves, he will be in better position than buying with heavy cash position.  

Obviously you can maintain a stronger presence and level of involvement investing in properties near you.

Purchase price: $187,000 Cash invested: $15,000 Sale price: $259,000 I got tired of moving place to place and worrying about finding roommate, security deposits and not having enough money to deal with maintaining someone elses home.

@Joseph BinkowskiDon’t forget that you can now be qualified as an accredited investor by passing the series 65 exam without any income or net worth requirements.It will cost you around $200 to $300 and will be valid for 2 years (unless you can park your license with a financial advisor firm, then it will last as long as you maintain it).It is not a difficult exam and you should be able to pass it with around 40 hours of self study with a good prep book or website.

When you start, the company may give you a small existing portfolio, but then you'll have to maintain & grow it to make a decent living.You could also work as a leasing agent at an apartment complex.

Investing in NNN lease (Walgreens, Dollar General, etc are your tenants) is also fairly passive, but you maintain a bit more control. 

How many weekends do you want to drive up north to find, purchase, setup and maintain an STR?