I am an investor myself and also own a real estate brokerage with a hyper-focus on working with investors.

A relative who does long-distance real estate investing told me that I have to sign the final loan document and the transfer of ownership document in person.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

@Ross DerouenBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

It sounds like you have a great background for investing as well as assisting other real estate investors in buying suitable real estate. 

Hey @Divine Nasikpo,If you have limited cash or assets, there are still ways to start earning in real estate:Wholesaling: While there are mixed opinions, wholesaling can be done with minimal money.

Florida has a ton of STRs so you are competing with plenty of others.

Looking for a gut check here because my CPA/tax guy is advising against dumping the brokerage account bc taxes, missed upside - but he also admits to not specializing in real estate asset/tax protection strategies.  

I am new to real estate investing and looking to connect with any local investor.Thank you! 

I used the funds to acquire real estate that appreciated signficantly.