For example, let's say there was a major development on rent control, that would allow me to pivot and understand next steps.

The village was originally just worker housing for all of the servants and businesses that served the Biltmore, and over time became a trendy & fancy little town just outside the gates.

This is before accounting for things like repairs & maintenance, etc.So just be sure you fully think through the cost side of investing out of town / out of state.  

By fall of 2021, both the visiting scholars and the vacationers were back in town, a lot of furnished listings had disappeared and I am back to renting at my pre-pandemic rates. 

I saw the income potential in a college town and ability to add value.

You have complete control over everything.  

Real estate investing can be a great idea for several reasons:Potential for Appreciation: Over time, properties often increase in value, allowing investors to build wealth through appreciation.Passive Income: Rental properties can provide a steady stream of passive income, helping to cover expenses and generate cash flow.Tax Benefits: Real estate investors may benefit from various tax deductions, such as mortgage interest, property taxes, and depreciation.Inflation Hedge: Real estate tends to keep pace with or outpace inflation, making it a good hedge against rising costs.Leverage Opportunities: Investors can use financing to purchase properties, allowing them to control larger assets with less capital upfront.Portfolio Diversification: Real estate adds diversification to an investment portfolio, potentially reducing overall risk.Tangible Asset: Unlike stocks or bonds, real estate is a physical asset that you can see and manage, providing a sense of security.Control Over Investment: Investors can influence property value and income through renovations, management decisions, and property improvements.Building Equity: As you pay down a mortgage, you build equity in the property, which can be accessed later through refinancing or selling.Community Impact: Investing in real estate can contribute to community development and improvement, positively impacting neighborhoods.These factors make real estate investing an appealing option for many people looking to grow their wealth and secure their financial future.It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

They use comps and they are going to look at what the town has the property listed as.For income it depends on what kind of loan you get.

You're def right that a wrap or AITD can offer more protection to the seller than a subject-to deal, especially in terms of maintaining control over the mortgage.

. :)  but my equity share is controlled via debt or direct ownership.