@Billy LinnYeah, like I said, pretty intense... so I would give yourself some time to practice the concepts as well.

Fix/Flip is usually fairly cash intensive since you not only need the money to buy the home, but also enough money to do the renovation. 

So they make more off of higher rents with less headaches even though the overall percentage of the fee charged is less.Example:70,000 property for 800 rent in rougher areaManagement at 12% = 96 a month X 12 = 1,152 ( big headache with intensive management).Example:Affluent area with 2,500 a month rent for a property X .07 = 175 a month X 12 = 2,100Better area, double the money, less headache generally.The friends I know that do property management work in other states you have to do a ton of volume to make any money.

We are working at entering the real estate investment opportunity in hopes of retiring from our current very labor intensive small business, building wealth for our current life and also generational wealth.

Originally I wanted to invest in Sarasota (it's where we typically go to vacation and I love the area), but the restrictions were intense and I know that the same goes for a lot of the Florida beach areas.

Collecting rent here is labor intensive and you got to be here to do it. 

A RV park is very labour intensive and a small park will not support employees.

If not, utility closet might be a cheaper and less labor intensive project.5) Will getting rid of the chimney help in a major way (space, etc.)?

My own city does not have a professional football team (good riddance Chargers) or professional basketball team (not sure if the Clippers, when they were in San Diego, qualified as a professional team - they were the Cleveland Browns of the NBA).

The Cap Rate represents a percentage return an investor would receive if they made an all cash purchase.Higher Cap Rates are consistent with properties that have higher risk and may be more management intensive.