I have not set up internet or any other utilities, as there have been no tenants living in the property since I closed in late February. 

We are a military family active duty to reserve and now looking to enter retirement years, so we see how beneficial it is to be close to the base and those amenities.

Being successful as an absentee owner of a small or even mid size business is close to impossible.  

With a note (while you can force appreciation by converting from non-performing to performing) you won't see any other appreciation, taxed at regular income rates, and lowered equity over the course of the payment schedule and it looks to me that you are only investing for cash flow. 

While some people are forced to invest OOS, and sometimes it makes sense, I think for most investors, staying close to home solves lots of problems and Warren Buffet says invest in what you KNOW. 

I would not be able to justify moving further out into a lower cost area based on the requirements.

You might wholesale them, or refer them to a wholesaler for a cut of the deal if it closes. 

Hi all,There is a distressed property I have had my eye on for several years that is in extremely close proximity to a property from my childhood, and an area I would like to own in.  

Make a lower offer that reflects more than the additional cost of that problem.

No one really knows what goes on behind closed doors as they say.