Unfortunately experience means you've made some costly mistakes :-) So, to avoid those costly mistakes, when I take on a new approach in investing, I buddy up with someone that already has experience doing them.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

No one will ever take care of your property like you will, but Avantstay is the closest thing I've ever had to the fairy tale of passive investing in real estate. 

In other words, I think we will probably have to be on the hunt for a very good deal or a very distressed property, and will not be investing in million-dollar multifamily properties... yet!

He seems to be a decent and smart guy though I have not invested with him.

Quote from @Miguel Garcia: If I look into investing out of state should I look to get pre approved by a lender in that area or would a lender in my area be fine?

We have previously tracked all expenses manually in google sheets and produced financials statements manually, also in google sheets.  

A boutique hotel is a great investment, assuming your plan is the turn it into a STR hotel as well.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.