South Carolina (where I live) is a great state for many things but not rental real estate.  

You can also do a live in flip where you use the equity to sell and reinvest down the road.

Working horrible job, living horrible, no golden streets of opportunity found.

Quote from @Isadore Nelson: I recently acquired a property with an existing tenant who has been living there for about four years.

Many DSCR programs require an investor to have a mortgage history- there are some DSCR mortgage programs that will work with investors who are renting- some refer to them as first time home buyers (FTHBs)- DSCR loans are only for investment properties where the owner isn't living there. 

I live in Harlem but work downtown so if I have to go to the building it is not too bad after work.

We live in San Diego so would be long-distance, TBD if we self-manage or enlist a PM. 

A few other things I'm considering;- I don't need the extra cash flow to live and am just approaching it to remove the high mortgage interest, but also hedge risk that the current stocks might tank in a few years.- Could take all current cash flow and a few thousand a year to pay off the property in 5-10 years.- Hold for a bit and 1031 into something else but am fairly confident there is not much appreciation to come on this property.

I have lived in Truckee for over 23 years and understand the pain you can go through dealing with a local government where the answer you received on Monday is different than the answer you receive on Tues, Wed, Thur & maybe even Friday if anyone is working.

A good way into it may be doing a house hack or live and flip then pulling the equity out in a refinance.Tons of ways to make money in this game!