This property is to price intensive for a good investment.

(older inventory is asking for bigger repair & maintenance expenses)I would suggest you temper the reach for yield and instead target higher quality inventory that will require less intensive management.As far as geography goes, I would pick an area where you have some trusted eyes & ears with boots on the ground.

Multi-units often have amenities that are not common in SFH like tennis courts, basketball court, picnic area, clubhouse, swimming pool, fitness center, etc.

Buying and selling real estate seems seems pretty intense and not so passive.

Oh, and I am hoping you root for the correct team (hint: they have won 8 NCAA basketball championships)!

I often counsel clients that the PERCEIVED extra few percent is not worth it.Especially if you are a busy professional and do not have time for intensive hands on managing.If you want to buy one of these properties and make it your daily job then yes you can run them.Running from afar or hands off is a recipe for disaster.What I value is TIME more than anything these days.I am willing to take a little smaller return for something that goes without intensive day to day interaction to make it work.There are many properties I wouldn't touch.Eventually they will be bulldozed and you can get the value back and then some.The question is do you want that stress affecting your quality of life for the next 5,10,15 years until you get the payoff??

My hobbies outside of work are playing basketball and trying the learn how to ski, and of course educating myself in Real Estate.    

Never done vacation rentals in Big Bear nor known anyone who has ... the two issues I see with it is they are management intensive and far away, so hiring a PM would likely eat your profits.

They're probably the hardest company to work for, however the training program is intense and very informative and it's fairly common knowledge in the industry that if you can last a year at Farmers - then you've got what it takes to make it in that career path.I knew more than one adjuster who was also a part time realtor or loan officer.Tim

Intense mindset training is what you and everyone else in your situation needs.