Self-proclaimed Section 8 guru's online claim to do the latter and then find Property Managers after they purchase the property in whatever state, but I don't know how real that is. 

For properties under $300K, you can definitely find okay options in these areas.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Once I was deployed on a submarine in the North Atlantic and they helped my wife with a 1031 exchange on the sale of a home and purchase of 2 other properties.

The first thing here would be the regulations and laws governing acquiring properties, managing properties and selling properties.

I really like the multiple income streams from one property.

Bonus depreciation recapture is based on the year that is placed into services.As of right now, the bonus depreciation for 2024 is 60%.It is not likely that they will change the bonus depreciation retroactively to 2024.If they change the bonus depreciation for properties purchased in 2025, it will have no impact on a property you placed into service in 2024.

At the time, I already owned a few properties.

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

As a property management company in Washington, we help owners navigate these challenges and optimize profitability if they want assistance analyzing their property or planning future strategies.