I especially like your suggestion about construction administration services, since you are correct that we don't have any construction experience and this would be a big load off of our shoulders. 

The municipal code, fire marshall also may have a say in it but 60-70 feet should be more than ample.How'd you come up with that width? 

There are still some shoulder markets outside of big towns in North Florida where one can buy sub 40s condos and rent them for decent returns. 

If a 'spandex warrior' has ever ran your son off the bridge shoulder cursing because he was in a hurry and getting his cardio on, you wouldn't consider it as happy experience either. 

If your goal is to sell in a few years there is no way to predict the end result so if you aren't comfortable taking that risk on your shoulders you probably shouldn't invest.  

Also, I run a software company, so rubbing shoulders everyday with the business owners of the area, will pay much more than cash flow on the house.Does that make sense? 

The big box stores have shrugged their collective shoulders.

While you can find partners to take some of this weight off your shoulders, you're still going to need to put EMD down on properties (risking tons of money), your reputation on the line, your investor's confidence in you, due diligence costs (inspection, scopes, lease audits, etc...), travel costs if you're going out of state, and much more!

When a tenant is in arrears, they should be checking more frequently ... and they should have never allowed them to get "several months" behind.IMHO, the PM company should be embarrassed about dropping the ball and offer to shoulder some of the pain (if they have in-house trades/staff, they could provide the labour at very little cost to themselves).  

Everybody else gets the cold shoulder because there are 50 people submitting offers.