This month, I added two new properties for this very reason: being local allows me to respond quickly if needed.Being prepared for any situation fosters trust with property owners.

So you want to get into real estate investing or start a business in a new field and want to create meaningful relationships or potentially look for a “mentor” to help you get started.

Quote from @Kaiden Foster: It really depends on what your goals are for a property.

Granted, this can be a learning experience about how to harden rentals properly, but it often creates all kinds of nostalgic sentiments that can flare up into conflicts with the tenants.The usual scenario is that the tenants move in, live as tenants do, and the newbie landlords go back in and find delicate stuff, or meaningful stuff, or stuff that they didn't even know was meaningful to them damaged or painted over or disrespected in some way, and then the newbie landlords get in this forum and moan about how tenants just don't respect their landlord's property, and they get ten other newbies commiserating and telling them that yes, yes, yes, they're right, and their tenants are bad, bad, bad...and of course this can lead to all kinds of poor decisions.

My dream would be to buy a run down motel/hotel and fix it up and run an orphanage/foster home. 

I'll think about how I might foster a constructive conversation first.

Quote from @Dave Foster: @Sharma Parth, You are correct. 

Find something commercially zoned, use it as STR while it's hot, then if the market crashes, you have the option of turning it into retail, long term vacation rental, or a community living space( rent it to a sober living, foster care or private home facility).

Quote from @Dave Foster: @Michael Masters, There's actually a couple of ways you could make this work using the 1031 exchange. 

This method, though not as exhaustive as a professional CSS, is suitable for smaller properties and still yields meaningful tax benefits.