Typically, these are families looking to ensure the property is within the desired school district and driving distance.

Do you need to commute to DC?

You're stacking risk factors - long distance (I think), first time STR investor, short on cash, partner to buy the land, lack of financing options due to land and non-traditional structures, and a little distress/hurry.

Being a nurse isn't easy, and with the long hours you would not like the commute.

(Btw, I go to all our properties multiple times a week as my fuel is just $15 back/forth despite 400km commute, so I take care of all of them a lot, so I am not an absentee landlord at all).

IF  buying  long distance - make sure you have your reserarch completed  well ahead of buying 

Long distance property management can be a challenge, where even a small problem can become a big problem.

The microscopic distance of the attic vent, insulation spacing, the smoke detectors not being in sync when 1 rings etc. 

If you want to get into the market for the appreciation play and are willing to negatively cash flow a bit you could consider a negative DSCR loan.I’m still very new so my decision would be based on factors that aren’t concrete yet (I.e. my goals) therefore long distance REI isn’t off the table.

In a drive able distance to where I live in South Carolina.