I understand the need to find and build a local team to manage the business or even one single property in the context of long-distance investing but I think such a step will enable me to speak the language.Luckily, I got a brief replay to my email last night from real estate express: Each state has their own requirementNew York info: https://www.realestateexpress.com/real-estate-license/new-york-requirements/ exam prep is the best minimum way to go...Could you elaborate on the costs associated with maintaining the license?

(Assuming that is enabled/available for you)

My long term goals include building a portfolio of short-term and long-term rental properties through buy and hold strategies to enable my ultimate goal of financial freedom post-military retirement and passing assets down to my kids. 

Not having debt enables you to build wealth. 

It could also enable buying aggressively when the market hits bottom. 

From my understanding many fire codes and building codes are built around 30 days is what is necessary to enable people to understand how a home works in an emergency.

Also, borrowing funds for the down-payment to then enable you to borrower more funds for the purchase money loan isn't a good look if I'm the one giving you the purchase money loan.

All of these things will enable you to find better deals and increase your returns.I’d be more than happy to share my experience investing OOS.

I don't know what state the property is in but in Florida the statute enabling this procedure is F.S. 55.10(5). 

Of course you don't know what you don't know so all I can do for now is say kudos for attempting to dive into a deal so quickly but please, read the books (or listen via Audible) published by bigger pockets so you can very easily build a strong foundation that enables you to analyse deals properly and then come back and ask specific questions about the things the books don't demonstrate well enough for you.Also, whenever someone says something you don't know what means (CoCROI for example), try to Google the term and attempt to learn from the internet.