Of course you have to qualify as an accredited investor for most, but if you do qualify it gives you the opportunity to get into bigger deals/more units that you otherwise would not be able to accomplish or afford on your own.You'll also be a limited partner in syndications, i.e. no active role in managing the property, so you'd have to be okay with that as well.Just food for thought!

Not only do you lose schedule, but hanging out in airports is not cheap unless your're going eat junk food/McDonalds while you wait. 

Not asking for answers, just food for thought: - what is my freedom number, meaning, how much do I need monthly / annually to leave my job and realize my dream of traveling? 

Has a list of people waiting to rent there and is getting $675 per unit. 2 years ago one of the tenants left the gas stove on with food cooking and it burned down the 3rd unit, due to insurance reasons he had to remove the building pad as well after demo.

Even the lowest priced house still needs to offer any future resident safety and this area can lead to various very undesirable legal liabilities for the owner/seller.

Ensure you have enough to buy an investment property and also enough for a safety net in case something goes wrong shortly after purchase.

My only problem is my children often offer me horrible food choices hoping for an early demise and access to the step up in basis.

You'll need to change the use from residential to hotel, which will require a lengthy process that includes physical upgrades and changes to the building.Basically the City wants the property to conform to safety standards for that particular commercial use.

@Alyssa SteinruckYou may have some contractors come and see how long it would take to repair the damages, or how long to repair the safety issues and get a better idea of what it will take to fix.If its something they can do in a week or two, you may just offer to put them up in a hotel until the major safety issues are addressed.  

I currently work full-time for an organic food manufacturer, but have some exposure to real estate in the past.