Property taxes creep up, exterior repairs , and a brand new HVAC last year wiped out $11k of reserves.

We manage about 45+ STRs and a handful of MTRs.

These are professionals with additional training and a stricter code of ethics.

It's not happening.Now, the example above is obviously just a vanilla purchase with 20-25% down and a very light or no rehab.  

I’m an investor and student of the game when it comes to building passive income and a solid portfolio.

Tell him it's time to do a remod and as a business you hope to market the place at a substantial increase.

Plenty of people invest remotely, and as long as you have modest expectations (not chasing the highest possible yield), and are using light leverage, and don't get suckered into buying in a part of town that you wouldn't feel comfortable visiting in broad daylight, plenty of people do this and do... fine.

I spend money on postcards, distressed lists and a website.

Augusta indeed offers great potential with a strong rental market driven by factors such as population growth and a stable job market.

Great way to build a business and a rolodex of listings/sellers.