And going to eat up the rest of the savings pretty quickly buying in that area again. 

This move would allow you to keep that long-term asset while using the equity to grow your portfolio—maybe even in a neighboring market.Selling (or Wholesaling):If you decide to sell, keep in mind that closing costs, real estate fees, and possible taxes could eat into your potential profit.

It's important to factor in HOA fees, which can eat into your cash flow, and to carefully look over the rules set by the association, some have strict rules on rentals.

If oven, washer, dryer go out, I would pay them some money for during the week for food to eat out or laundromat, and then fix on the weekend.As you said you're in the learning phase.

I don't know how fast these buildings can appreciate in these markets but personally I would be considering if I should just eat the loss now.

However, I'm starting to worry about managing these properties once I relocate.While cash flow is likely to break even or be slightly positive, paying 8-10% for a property manager would significantly eat into my margins.

For those of us starting out, and looking at lower end real estate, saving for expenses will eat up a good portion of that monthly cash flow until we get a nest egg to hold, or until you (I'm in the same boat) get into more expensive/valuable properties.

Again, all I have to do is download my bill into a folder, and the rest is taken care of.I'm not a fan of paying utility bills because they eat into your cash flow, and the tenant may not be as "resourceful" with their usage if they aren't getting hit by it.

It will come, but you will likely have to drive for shopping, eating, activities.   

The HOA fees from condos will likely eat up most of your potential for cash flow.