If a state requires a license you need a license IN THAT STATE.

Quote from @Matt McNabb: I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  

So, not really passive.Investing in rReal estate offers a lot more control than investing in stocks, but it also requires an investment of time to do well.

If you get a quote significantly below the numbers above you need to ensure that the contractor will actually execute the work and perform it to the required standard. 

Eventually, I’d like to start using the cash flow to pay myself and work toward replacing my day job income.

Are you still working the 9-5 job or retired? 

We also do not allow the tenant to patch holes or touch up the paint, because they usually do a terrible job that takes longer and costs more to fix. 

It would be best to befriend a local contractor or even help one out on a job to see any differences from your past eight years doing it in another country.

@John Matthew Johnston 80% of the time, it's a thankless job:(You're never fast enough for complaining tenants, nor fast enough or cheap enough for owners.To have any chance of success, you have to be extremely organized, or every day starts with your hair on fire!

The city has changed Section 8 requirements multiple times lately.