When I first started my education I learned that 90% of millionaires are real estate investors, there are many ways to make money if you have no money and being generous is one of the biggest reason for someone being rich.

Purchase price: $1,000,000 Cash invested: $250,000 Purchased the biggest home in all of Avenue of The Oaks which is in the Melrose Community on Daufuskie Island. 6 bed/6 bath - sleeps 20.I purchased it because the neighborhood (Melrose) is currently under contract by a group called Whitestone, who will be putting 100s of millions into the community.

One of the biggest problems with inherited tenants (besides being way under market) is that often they either don't have a lease or it wasn't enforced.

So, I guess my biggest question is how long do I allow them access to get their stuff?

Only after I got off the phone and did some googling, did I find out that Lorrie Morgan's biggest hit was "What Part of No Don't You Understand."  

I listen Rod Khleif's and Ken Mcelroy's podcast where I have heard several guest say their biggest regret is not seeking a mentor and not starting with multifamily. 

The Midwest in general, can be typically like this.At our property management company in Cincinnati we have a significant amount of out of state investors (many in Cali) and they love our market because like you said, there are opportunities for lower priced homes compared to where you live.The biggest thing in my opinion is to find the right Realtor to help you navigate the different neihborhoods in Cinci as I believe it'll be very difficult for any out of state investor to TRULY know what they are getting into without a very good Realtor.Reach out directly to me if you want to chat more! 

#1 biggest thing to find out is who subsidizes the tenants.

@Kevin Si the main point I heard is that you're approaching "retirement" not active management :)You can partner with proven operators who can effectively spread that 1M across 1,000+ Multifamily Units with less downside risk WHILE you keep your retirement TIME.

Some believe that is the biggest problem with low numbers and hosts feeling like STR is a dying strategy, they never did understand the market they were buying into.