the annual fee and the travel and time commitment was easily 30 to 40k .. a year. 

During my "spare time", I enjoy playing/ watching soccer, kick boxing, traveling and reading books.

This seems very overpriced imo, however, if you want large tax losses to offset any other gains from other stuff then it could be a great deal if you think their could be appreciation.It's all about your internal and external goals and what you want to achieve, but on a purely numbers basis I would pass.

Id more or less like to own the properties and then hire out the property management either internally or externally 

No one can or should tell you what to do here because theres so many internal or external factors.

Yes, it can be a little more nerve racking because unless you travel you can’t “see” the property, you can’t inspect it yourself, and you can’t go see your team (agent, contractor, etc).

In that time, the town has gone from a sleepy little town and fishing village to a growing tourist and traveler destination.

We travel to the area often and will be there at the end of this month.

Did you guys move to Alabama to pursue this project full-time, travel back and forth, or manage this remotely?

Now consider how far away (travel time) is each project from one another??