Also remember, depending on your threshold, the further from LA you get, the farther your money will go, but also your commute.To start your education, I would recommend Long Distance Real Estate Investing, by David Greene - it's not the most concisely written book, but it would certainly give you a look into what it takes to be successful at it.As for me - Since I moved to LA a year ago, I have realized that the cash flow game isn't one that I feel I can do successfully and I'll continue to buy MF's back in MA in a market I know better.Good luck and feel free to PM me if you have any questions!

Basically I'll need to figure out a way to raise the ceiling in the living, dining, and kitchen.

No midnight runs or short notice of braking a term lease.Vacancies mainly come down to management.

I have a 3.5 acre commercial lot in a rural part of NY with access right off a heavily traveled main road.

Mainly, you cannot use rental income from your vacating property unless you are more than 100 miles from it. 

Mainly, you cannot use rental income from your vacating property unless you are more than 100 miles from it.

I know that this is more a local problem with the big growth my building area is going through, mainly because of the smaller sizes of the cities and towns, in which I operate.

As can be seen in this topic too, the “main company” OCF cares about the performance of the management company (the one you call ZZZ realty).

The historic main streets are filled with restaurants, outdoor cafes, shops, galleries, and other pedestrian friendly locations, mostly brick roads with pretty elevation changes. 

Mainly ones that are situational and that will essentially only be learned through doing actual deals.