I know the hype has been for a while in these areas but as a out-of-state investor I would still prefer "safer" places.  

i prefer them to ghost paid in full than live there rent free waiting on the court.

I prefer M2M.

Laminate is a great countertop and tenants prefer it over tile, which is the next cheapest countertop ...you can tile over laminate if the seams and edges are square and not curved. 

I could probably find this myself, but a multifamily property, preferably seller financed, of 4 or greater units. 4 units and I can do a federal loan since I plan on living on property. 3.

If your inspector prefers to work alone, find a different inspector. 

In order for you to stand out from the crowd you need to find niche lists that others don't have or won't take the time to acquire and you need to send unique mail pieces that don't look like everyone else's. 

Hi,Can someone help me understand what is the difference between Preferred Capital and Debt when it comes to Real Estate.

While that may be a possibility in the future, I would prefer to have my first property nearby so that I can easily take care of the place and learn.Am I naive to think that I can find a good deal here that will give me positive cash flow?

You really don't have to do this to many times before the monthly cash flow puts a big grin on your face.Perhaps I prefer this method because of the low stress/slow pace it allows me.