I had a property out in a semi decent area outside DC for a while and the A/C condenser was stolen 2 times, I mention that because there can be large unexpected costs in these areas especially if they are known to be high crime!

Take the time to learn how plumbing works, how an electrical system works, what components go into a roof etc.  

What are the components you want to be hands on with?

I'm with Zack Karp, I would look at buying apartments in a very good area and have a property management company manage the apartments, make sure you keep cash on hand in case there are vacancies or unexpected expenses.I have bought over $5M in property, I have had apartments and flipped single family homes, if you do decide to buy single family homes, do it under 200k a piece, in other words do not buy the big expensive property even if it is a great foreclosure deal, because if you can't sell it quickly, at a higher price it is nearly impossible to rent it out and cover your mortgage payment.You could buy 7 or 8 100k homes and put 20k down on each and at that price point definitely look for some good deals i.e foreclosure, distressed home owner, whatever you do, take your time, regardless of what any realtor tells you, take your time and make smart decisions.

Servicing is a component of every mortgage transaction that must be performed. 

What I've come to understand is there are 8 main components to a land contract:Purchase AgreementLand ContractLand Contract MemorandumClosing StatementDisclosure StatementDeedID StatementAmortization ScheduleIs there anything else I should familiarize myself with?

Now I do a recorded webinar, so it's similar to the conference call concept but with a visual component so I can share photos of the project, charts, and data during the discussion so that viewers don't have to flip through printed material to keep up with the conversation.

Key of course is finding the right TK partner or partners, and nothing is more important than the property management component.  

We look for properties with some value add component that will provide us with a greater equity buffer if there is a dip in the market. 

I will still have income coming in from my FT job therefore if I have a higher vacancy rate or any unexpected repairs etc I will still be able to pay the mortgage.