My business has been in business for 30 years with excellent financials.

And my criteria is all my units should be managed by someone(PM)".I would focus on selectively selling and bringing everything home.

@Michael Dumler all excellent and valid questions.

-Purchase price is $475k-expected gross rents 4440/month if all are LTR, more for STR-Current rents per month: 1 is $850, 2 are STR, one owner occupied-Fair market rents per month: $1020-1200 as LTR-We have an existing relationship with an excellent professional property manager-We have excellent credit and high salaried  W2 income (attorney)Thankful for any advice you can offer!

When investing out of state, I deem that the team you work with is just as important as the market you select.

The property under contract I want as my primary is 395 K and in the most excellent location, river front and 3 residential structures are allowed in the land.  

You might want to separate the market into "type selection" and "environment/neighborhood selection".

I'm thinking that this would be an excellent place for ground-up self-storage.

On the other hand, if she applies, her credit score is excellent but her income is very little.How does this work?

A call to a town building department, or an internet search should answer that for you.2) I have found The Journal of Light Construction to be an excellent source of information.