I was able to connect with a property manager out there through someone I heard on a podcast, and I knew worst case scenario I could have just sold the property if I ended up not liking long-distance 

I got all sorts of calls, usually some were just curious, some were angry, every month someone called the police, the BBB and one time even the FBI on me, because the term "cash offer"" seemed suspicious to them - drug money LOL A place officer called me on behalf of a resident asking me to stop mailing them, to which I replied: sure whats their address and he said: he would not give me that information.. 

All sorts of folks.

Worst possible outcome the 3 acre lot gets converted to 4 lots utilizing a Parcel Map ?

I would say 90 percent of all homes in the outer banks are in a str program of some sort.

When my friend started using them they were aggressively looking for rental portfolios in the market so he is sort of grandfathered in with them.Hope this helps with your decision.

If you don't allow someone to access the property when they paid to do so, that sort of thing.Negligence is when you don't make a repair and someone is injured.

I suspect anyone telling you that you need to tap into underground markets is trying to sell you a marketing scheme of some sort.

And beyond any realistic worst-case scenario, in my mind I would rather sell my own house and sleep in the car, before one of my investors would lose a cent.

Quote from @Kyle Souza: From this groups experience, what sort of "gut checks" do I need to make to make sure I will qualify for debt on my first Apartment Acquisition?