I'm involved in the day to day activities so I think 250 hours a year is pretty achievable in my case since I manage both the STRs.

Is that true or is their another way to achieve the same goal?

I have no interest in owning a unit for a couple/few hundred dollars of cash flow per unit (and this likely exceeds what most OOS investors will achieve) that will never become greater. 

Now I was ready to make the first critical move to see what I had learned and put in an offer on a multifamily home to achieve cashflow.

I used the Intention Journal last quarter and achieved some great results with achieving 3 goals in 90 days.

With a budget of about $400k I think your goal of 45 mins from Boston is achievable especially in cities like Lowell which is where we do a lot of business.

I understand the metrics hat need to be achieved to maintain the status (material participation etc) so looking for did this status help your tax situation and how.

For those who have used a mentor, can you name one thing he or she advised that really got your attention and helped you achieve something you could not have otherwise accomplished.

Rehabbing the home to achieve the upper end of market rent.

Part of the costs are modest management fee (5% in leasing I think), an asset mgt fee of 9,000/year (1.3%), 5,000 / year acct/legal/organization, vacancy/repair/maint/misc util/ tax/insurance.. then the loan which refinances 24-36 mo which hurts cash flow but returns all capital**[I think you should achieve a 11.3% CAGR by initially investing 630K (615 initial + 110 year 2 minus cash flow), getting that money back and investing it in the market @7% and adding 35k each year till year 10 from teh cashflow.