This home is in a great area within walking distance to an elementary school, a middle school, (both great schools) Whole foods, and the list goes on!

But investing outside of your state has its own set of difficulties as well, such managing remotely and not being familiar with the specifics of the local market.Make a Plan for Property Management: If you decide to invest in rental properties, decide if you'll handle them yourself or by working with a management company.

Agreed I think if there is specifics of a guru program to discuss then thats OK good or bad..

While the general principles regarding LLC ownership, asset protection, and taxation may apply universally, specific legal requirements, regulations, and tax implications can differ from state to state.Good luck!

Thank you @Matthew Pinkstonfor suggesting the venue and ordering the delicious food.

Wanted to check if that is true and if it is just lender specific or are there any legal laws around it.Thanks

I know personally quite few Sec.8 Tenants who drive nice cars (Lexus, Jeep Wrangler), take vacations, enjoy shopping in high end malls......they work for cash and have free health care, food stamps and Sec.8 Housing.These are not legal reasons but that's not what I believe I should do.

I think a more ambitious strategy would be to "flood the zone with value" - specifically, pick a few listings in the geography you are interested in that are being mismanaged and propose your plan to that owner just as an ice breaker.

I think looking to get face-time with someone who is experienced in this specific situation and market status would be really helpful to answer some internal questions and provide guidance and external motivation to make a decision and get moving. 

Splitting the parcel depends on the local government, so hard to say, but our understanding for this specifically is that it is relatively simple / not very costly.Whether we split the parcel or not is somewhat the reverse of "greater than the sum of its parts".