Readers are advised to seek professional advice.

However if you are wise like @Jim K. and know what the repairs will cost, what the properties weaknesses and strengths are, and have money in reserves, you should be fine.

They focus on deals in the gentrifying areas of town, and target higher end tenant base they have built through professional networks. 

Now I’m not worried because o have automated online systems for rent collection, contractors and licensed repair professionals on speed dial, and I have some boots on the ground in the form of family who can lend their knowledge and keep an eye out for me.My first thought to this question is : if I’m worried that it may be too far ,then for me it may be too far.I could never do a flip that far away, IMO.

Other things you can use to demonstrate your intent would be your normal practice, rental agreements or rental listings, written correspondence with your professionals etc.You've got a pretty healthy gain to shelter for sure. 

First, tell you boss at your company and make sure it's okay -- it doesn't do any good to make an investor mentor if you also lose your 9-to-5.As for approaching the individual: 1) explain why you're interested; 2) say that you did get the ok from your company, and that you're doing it in a totally private not-related-to-your-company way; and 3) offer to help out with his properties like you said.A key thing to be clear about -- if you offer to do any of your professional day-job work for him on the side as a favor for him helping you out, you need to be sure that your company doesn't mind you doing it.

Attorney is the best practice professional to help establish buy-sell agreements and other exit strategies, including provisions in your partnership agreements.

I just want to understand realistic comparison of reg sale vs reasonable and maybe more attractive seller financing structuring taking into account future short/intermediate term interest rate trends and Time value of money (that I am a fan of learning more).As a side note, being a health care professional I am amazed and always puzzled by financing and real estate.

Looking for a tax professional that specializes in Real Estate that can help guide us through the structuring process and beyond.

The topics, the professionalism and the knowledge you gain from REIA is absolutely priceless.We meet 3 times monthly including a round table 1 on 1 for dinner at Bigboy and Breakfast at Uncle John.