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. 

You can refinance it into a conventional loan and that helps avoid the higher down payment.FHA also offers more wiggle room when it comes to DTI debt to income ratios and reserves requirements. 

Richard,I would think the hurdle of selling all 9 lots at the same time and getting through due diligence in time to satisfy the 1031 requirements, might be a big goal.

Mind you, I had completed appraisals, credit pulls, and all other tasks that they required.

You are required to disclose that debt, and it will be a fairly easy catch for an underwriter, even if it's not on your credit report.