Sometimes it's better to pay a bit more, for a real professional to handle your most important transaction. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Sometimes you get lucky.You could even bring up the subject of seller financing (search online for ideas of how to structure a seller financed offer), and make sure a competent real estate attorney helps write the offer documents (if it gets that far). 

There are all kinds of plans and ways to “make it” in real estate.

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?

Quote from @Victor Patel: I have went to many real estate and franchise conferences over the last 30 years. 

This is also why real estate isn't built up too much at once and comes and goes in waves.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

If you want to acquire more real estate I suggest more savings or sell the other property with equity. 

I will be managing and will be paying a real estate agent friend to show the properties for me.