If you don't do the homework, you will give them the impression you may not be up to the task of doing the homework with real estate investing.

The benefit to investing out of state, is that it forces you to develop the systems and the mindset from day one that you are not going to be physically going to these properties and fixing things, you'll be training yourself in "leadership" type tasks and systems and that will make it easier in my mind to scale. 

Then have a task force set up to investigate, confirm/deny, send warnings or fines, etc. 

Also, this is just the start of my RE adventure!

You just need to write down how much you take in for rent and how much you expend on each property as a bookkeeping task so that your taxes can be prepared correctly. 

If you don't do the homework, you will give them the impression you may not be up to the task of doing the homework with real estate investing.

It depends upon whether what you are doing fits within the definition of brokerage ... such as showing property, collecting rent, processing lease applications, etc. or whether you're just performing ministerial tasks relating to the property. 

Love the enthusiasm, and there are some great points written here, but I will tell you that officially raising capital with an SEC exemption is no small task.

If you don't do the homework, you will give them the impression you may not be up to the task of doing the homework with real estate investing.

Purchasing OOS as a brand new investor is not an easy task.