I recommend as a first step in your education in this new type of investing - join a Community that is specific to syndication investors.  

Outstanding education, local and national meetings and lots of networking.

You don't realize the full gravity when you are 20..But it would be less awkward for young people if it were a legal requirement to sign a prenup, just check the boxes you want, maybe even go through some education before. 

The irony of the 1% "rule" is that those who could even use it effectively don't need it, ie if you need to spend more than 30 seconds thinking about whether it fits the guidelines you're probably not educated enough in RE to use it anyway. 

Having a safe forum for LPs the share their experiences is needed.Cheryl  In EVERY business there are two kinds of market participants; the people/companies in it for the long haul, through both good and not so good economic times, consisting of EXPERIENCED, PROFESSIONALS whose careers are dedicated to and dependent on fulfilling the needs of their clients/customers.The other type of participant are in the particular business because it’s OPPORTUNISTIC for them to be in it AT THE TIME.  

In my mind, out of state investing means extending the education and research phase and pushing the 1 year goal to maybe a 2 year goal.

There are several texas who to me are not people I would want to do business with who took millions from investors and never returned it and still is out there raising $ and people are still giving him money for education and investing which is not gonna end well for them. 

I working to educate myself more about REI.

Some sellers may not care and those that are in protected class's IE non english or simply not educated might still get taken advantage of..

Whether you read my book or one of the others out there, I suggest you educate yourself and learn how to manage well before a mistake sours your plans.Flipping is a great way to earn income, but the market has to be balanced.