It does cost money and you are required to take classes.

Will need to know density, parking requirements, can the building withstand building on top, lot size, future planning etc…. depending on how well the zoning and platting dept plays with others!

My plans would require the Village to rezone the property.

Make sure you research rental licensing requirement per municipality as they very greatly and make some cities a real pain to deal with. 

Even if it's in Vegas or Flordia it's still out of state and will require a property manager for the day-day operations.

Many states have non-judicial options where if the contract allows for it(most contracts do) then no court involvement is required to foreclose the property.

If it's a commercial/DSCR loan, then licensing may not be required.

Can you generate custom reports in Buildium to match the Stessa required format?

I think my main point, which you’re experience lends support to, is that while there are below market deals out there, it requires a continual effort of being “in the market” and looking at 100s of deals to negotiate the rare below market purchase.  

You can give notice to one of the tenants, then move in and rent out rooms to further cut your living expenses.Yes, something I've considered but does require me to move from CA to TN, so big life change.