Ideally we would want to rehab anything that is even mildly dated (most of this I can do independently) and provided a very nice property and ideally keep maintenance down since ill be out of state. 

Virtual wholesaling seems to be my best option, because I currently live in Berlin, Germany, and the language barrier(negotiations/legals) would put a very high degree of downwards resistance on my new business potential than is tolerable IMO, and of course if I can master virtual wholesaling, then I can finally run away and join the circus and STILL become a kazillionaire as well (operate a location independent business).As a total newbie, I am attacking my planning in the following way.

Subsidiaries and affiliates appear to be independent, they can generate expenses for tax advantages, hold and bid on licenses and sub-let space.

If you or anyone else is interested, now would be the Time to email me independently to discuss before I do get an agent involved.    

Check out hotpads.com too for independent landlord listings.  

My wife and I are currently by definition, "financially independent".

@Joshua MartinI'm thinking you need to evaluate this as more than 2 options, each looked at independently in a spreadsheet.rehab, rent, refinancerehab, sellowner-occupant short term while rehabbing to rentowner-occupant 1 year while rehabbing to sellowner-occupant 2 years while rehabbing to sell with Cap gains exclusionI was struggling to see the value of any of the owner-occupant options, but I assume that helps you get the purchase loan on the place.   

@Adam Baker @Brad LarsenI'm no mathematician but if the top 6 management companies have 1700 properties combined (per Brad's post), and maybe there are another 1700 out there with other companies or independent, and an average vacancy of 10 percent, that would mean that at any time you could easily find 340 properties advertised for rent in a perfectly healthy rental market. 

If you want to do some independent research you could start by doing this:1.

My ultimate goal coming here is to build an asset column that makes my family and I financially independent.