Learn a LOT about investing out of state.Research the market you are going into and figure out the best markets.Make connections in those markets and vet those connections.Save up more money and move up from the war zone and go to a $30,000 to $50,000 minimum market where there is less crime, less vacant lots and vacant houses, where the police will actually respond to a call from a homeowner, where there are jobs for your tenants to work at, where there are schools for your tenants to send their children, where there are real grocery stores for them to buy real food (not gas station or fast food).  

The guy I use is an EA and has served me very well throughout the past 5 years or so that I have used him (but he is up in Mooresville).

You'd be served well if you built a list of wholesalers that will do the dirty work for you and bring you deals if you are fixing and flipping or buying and holding.

Office buildings...Would it be good for fast food or bank where you could land lease them the property and they would develop it and your colleague would just sit back and collect check.As you can see there are a bunch of scenarios you can throw out there but it all starts with the zoning of the property and what is allowed under current zoning laws unless you wanted to go through a zoning variance proceeding.

The party paying the bill (aka seller) will always be served better.Personally, where this comes up, I insist on my own agent or I will decline to proceed with the transaction.

Can I still serve him a 5 day notice to supersede the 30 day notice given by the tenant, even though he hasn't paid?

Looks like in a few hours I'll be stopping by to serve them their notice.

My dream is to create a real estate company serving the housing needs of middle income population, but like everything in life, it is best to start with baby steps.I like the NYC metropolitan area because of its diversity, potential for growth and the fact that it behaves somewhat independently of the national economic trends.  

Appreciation does not pay the bills or put food on the table.

Even then rare...Having 100% extremely late sounds fishy.Bad news: you may have to serve some notices and carry the mortgage (all or part) in the transition.... and you may need new or more effective management.....Good news: you can refresh these tenants (i.e., not renew as lease ends or evict for non-payment); screen the new ones and emphasize timely payment; also you get a good lesson: give one tenant an inch and they'll all take a mile!