You think it will be passive because you are planning on hiring property managers, but that's a big cost for one property and you still have to manage the manager or your cash flow will dwindle.The way you are proposing what you want, you may get caught in a turnkey funnel and end up with less potential scale on the investment than you had hoped.

I think I need to submit a floor plan as well with application for occupancy?

There are far more important items you should be prioritizing but first so I am clear on the strategy, it sounds like the business plan is to go under contract, renovate the building and then purchase the building once renovated and stabilized?

(I’m planning on doing a 1031 exchange) 

Picture this: After weeks of negotiations and planning, all parties involved finally reach an agreement on the terms and conditions of the sale.

We are planning to rent it out and move to Massachusetts.

Fourth, create a long-term real estate investment plan that complements your preferred lifestyle and financial objectives.

Im antsy as this is my first and just want to get someone in there, the right tenant of course (and I wanted these learnings).I am planning on self-managing first, again to learn all I can.

I plan on separating in two years and want to be ready for my first investment at that time or possibly before.

Thanks I've been doing some homework on stuff and trying to figure out what the best plan is and basically from what I've learned is I just have to do it and learn from it.