Tax Write OffsSo even if you aren't getting the positive cash flow, you are potentially making it up in the other ways.

Plan on living there between 1-2 yrs while making improvements, and renting out other parts of the house if possible.  2 years for tax benefits, 1 year for lender obligation before you move on to another purchase.

Roth funds can be withdrawn tax/penalty free.

When did buyer's agents start training on  buying "off market" without agents, subject to, wraps, seller financing, lease options, land contracts, fix & flips, rentals, taxes, asset protection, etc, etc, etc.

Seller's affidavits about BK,  liens, taxes, no new liens in last days should have been ready to go yesterday.

Eventually I will invest in cash flowing properties out of state.I'm looking for tips and advice on being a land lord such as maintenance, rent collection, taxes/accounting, legal, and things you wish you would/wouldn't have done starting out.

As a sales professional, you'll find that one of the greatest benefits of investing in real estate is tax saving -- I'm not a CPA and can't advise on this, but I've personally saved a fortune through REP status and cost segregation. 

If your doing anything close to this tye property better be a 100% home run .Otherwise, we didn't do a portfolio loan until we had 5 houses and supporting tax returns and did everything cash up until then. i wouldn't do it until you have some track record before jumping into leverage and a heloc is made to use and pay off quickly.

Navy Federal, as an example, needs a long time to close and requires tax returns, but has a 20 year draw and a 20 year payback period…takes much longer than others, but that payback period is amazing.  

And what are the future ramifications when withdrawing from the 401k since part of it should not be taxed?