Some landlords go the cash for keys route; its an option, but I've never had to give up that much to get a non-performing tenant to move-out peacefully. 

I'm nervous because since I wouldn't be available on site any time something goes wrong. 

Capitalize on all of the free resources this site has available at your disposal.

I remember I went to a seminar once about note buying and they would give astronomical/almost made up numbers that made people want to get into note buying/selling, performing and non performing notes, but how realistically is this? 

>> No, if you agree to the attached repair items that will be sufficient.Given that there are tenants in the home already, can I still schedule a re-inspection to be performed?

Just in general, you would want to wait a year to see how well your property is performing before diving into another one.

I'm Nick Terpstra, a 24 year old from Kamloops BC.I purchased my first home last year, built a basement suite for myself and have been renting out the upstairs.I am fired up to further my real estate portfolio, and I look forward to learning from the veterans on this site.

Cheers,-Gary Welcome to the site Gary.Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.

You can also perform a market hedge and start to separate your cash and leverage.  

Early on, I thought that as I collected actual performance data in my portfolio, I would be able to pick one over the other in 3 to 5 years.