They also keep saying how they dont want me buying a property out of state because i don't have a network of contractors they trust, and will constantly have to check in to make sure the job has been done properly. 

However you can reduce the risk to almost nothing with proper knowledge. 

Buy two locks with matching keys or get them keyed to match by a locksmith or a hardware store so you only have to issue one key to access both of your doors.Schlage F80 ELA Elan Keyed Storeroom Leverhttps://www.americanlocksets.com/schlage-f80-ela-e...

Looking at the E-5 BAH rate for the local base helps set the pool of people (E-5 family or E-3 roomates are most likely)--or use O-3 pay if you want to tailor it upwards.

Just make sure you're properly insured and leave it at that.  

@Sebastian E. 

I'm not sure how to properly valuate this... even though the comps show that the price is correct-ishHow can you help?

I had to edit the report 6 or 7 times; playing around with the numbers and learning how properly enter all the data.A realtor that I met on BP (don't know if I should name drop here) advised me that the ARV would be about 130K and that it would rent for about $1,100. 70% of 130,000 is 91,000.

The cost of living generally eats most small investors profits when owning properities outright.  

I'm thinking as a rental, everything applicable to just that one rental goes on the Schedule E, and everything that has to do with the Contracting / Flip Business LLC goes on it's K1 partnership, or in the accounting that underlies that.