One problem is that everyone wants to live in great places, so those places are inordinately expensive relative to income, but the places no one wants to live - Nebraska, or Iowa, or Columbus Ohio (just to tweak the Cabal!)

A decent used set would not be very expensive and should last a few years.

But since I’m not an experienced fix-and-flipper, this would require hard money, additional out-of-pocket expenses, and a 3-6 month turnaround before selling.

Then additional expenses for virtual assistants, legal help, accounting, etc.  

They collect the rent, deduct their fee and any other expenses they are allowed/required to pay on your behalf, then they distribute the remaining funds to you.It's critical that you review the property management agreement and understand what you agreed to.

Housing was less expensive than my home state (Colorado).

Financial Management: Property managers provide detailed financial reports, handle rent collection, and manage operating expenses.

Since it's a commercial asset, you need to get all the data possible on rent, expenses, lease end dates, cap ex done and needed, to present a five-year plan to the private lender.

We don’t co-mingle funds, using business money for personal expenses…we can do owner draws and owner contributions in and out of the business checking account.  

I'm covering the leverage and have reserves in place for any capex expenses.