.- rentals do not go under an S-corp, which is why a separate PM company was suggested- S-corp technique on reducing SE tax is both tricky and costly, and you cannot set up your salary arbitrarily- you can only base your 401k on the part that IS subject to SE tax- you usually cannot generate enough "earned income" from this 2-companies setup to make it worthwhile for 401kSee, it is not simple.

Does anybody know if this is worthwhile?

So may be worth while to warn everyone.

What are some states (and specific areas in those states) that are worthwhile to research and consider purchasing properties?

It is usually not the return on investment but instead the ability to learn and relationships that are formualed from lenders to contractors etc. that can be leaned on as that individual advances in their real estate career that make these entry acquisitions worthwhile. 

While the transmission lines may be a slight drawback, (just thinking what kind of risk or drawback can this be to a potential home buyer) I still think it is a worthwhile investment.

Not sure the size of your portfolio and if it is personal or you are managing for others, but if it is the latter (or you have a decent size portfolio) it might be worth while investing in that.  

I told her she could buy it, hire a licensed electrician to install at her cost, and have licensed electrician replace with original light upon moving out, also at her cost.I will note that in general, while you are always able to be nicer to your tenants, and there are times I think this is worthwhile, if you are not required to under NYC laws, I would not set precedent that you do these things for the tenant at any out of pocket cost or work for you.  

I do like to go to a couple of RE courses every year and usually don't learn alot of ground breaking stuff at this point, but sometimes you get a nugget or 2 that makes it worth while.

For what it's worth, while a joint and several guaranty is most common, I've seen and have been a part of transactions where the parties negotiated limited guaranties for each guarantor (usually based on their % ownership) adding up to the 100%.