If you need the cash flow to live on and it will improve your lifestyle, then go for it.

I need a consistent partner who wholesales virtually in the Central Indiana market....Every deal ive ever closed was with someone that didnt live in my market......I am boots on the ground on steroids lol

I am gonna live in this multifamily, thus I think I am qualified as owner occupying.

If I buy property in a state that I don't live in and put that property into an LLC registered in that state, will it be protected or does that LLC need to be conducting some form of business?

If you plan to live there in the winters, you might have a hard time doing long term rental outside of that and finding a new tenant every summer.

I live in the greater Reston, VA area.

I wanted to invest where I wanted to live and I am also from Elgin so am constantly headed further nw. 

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

I am from California, but lived in Peachtree City, Georgia last year (renting), and currently live in Germany as an Au Pair.

We found that by more or less falling on our sword and saying, "Hey, we want you guys happy... tell us what you need from us" they were more than helpful and once we had contractors they liked on board the process went perfectly smoothly.I don't live near you so can't help with your locale... but hopefully some of it helps!