The property itself is about 2 miles "out in the country" from this small town. 3 miles from a "Super Walmart" :)23 current mobiles (100% occupancy - but room for more pads)16 are lot only7 are 'owned' by the tenant with mortgage payments to the owner.0 owned by parkI asked him to send his financials and he emailed me a scanned list of the receipts from last month.$3750 lot rental$2125 mortgage payment receipts$5875 gross rev/mo.A rough estimate of an undeveloped acre of land in the immediate area is about $5K per acre.No expense information yet, so obviously that is in my list of questions/due diligence.I know his taxes are <$800 year.Gravel roadsNew DEQ approved septic systemCounty services (not the nearby town)What are the questions I need to be asking at this initial meeting?

Go no further out than half a mile.

While house hacking is going well I am looking to expand my investments to rental property within a few mile perimeter of the college. 

30 square miles? 

Hi All, a town about 15 miles from my home, a fourplex has come on the market for $47,900, it consists of 4 - 2 bedroom 1 bath units.

Some of my reservations on going forward are1. builder completing project 2.I may be shown a different unit then what I will be delivered.Also how can I narrow down my area of focus me being hundreds  of miles away ? 

Specifically, the area I am in is approx. 8 square miles in one city, where I have lived for most of my life.

Based upon what I'm reading I really think this is an effective strategy and would like pointers on how to get started.Basically, I'd like to set a respectable property up within 1-2 miles of a University pre-furnished, with made service 2-3 times per week, on site laundry, utilities (including Internet access) covered by me and charge a premium.

Why would local RE agents and their investors let a good property fall to a rookie investor from 2000 miles away?

It's a condo in 1160 Hillsboro Mile, Hillsboro Beach, Fl.