Finding someone that is trustworthy that will do all of that while you are living out of area, and providing money and the lot has value.

Congratulations @Megha Agarwal we have 2 STR’s in Lake Harmony as well and live about 2hr’s away.  

I have been successfully renting out 3 rooms in my single family home while living in the unfinished basement for a little over two years now.

At some point, you may decide to pay off properties so you are 100% cash flow and living off the income.

My goal would be to live in the condo or coop for a year or two and then rent it out!

I understand that I should have a separate bank account from my personal checking/savings, but based on my research, this first deal won't necessarily provide cashflow with me living in one of the units (it will when I move out).

Since I live here and am within 15-20 minutes to all my properties I chose to self-manage.

They live on the first floor of a small ten-unit building. 

Lovely couple and her sister living in House . great tenants . sister says she might move back to Florida one day and refuses to sign the lease renwal along with the others. 

They have a whole department that investigated "occupancy fraud", which is a felony.The rules state that you must live there for at least 1 year.