Local factors are all still strong, but interest rates do make a difference at every price point. 

@Stephanie McKay - this will depend heavily on your situation.In general- an LLC will not have a tax impact... it is mainly an asset protection strategy. 

You are not spending the money this way, you are using it.Multiple uses, but a one time cost, makes the interest rate a non-factor...so long as the first investment covers the expense of its use.

I didn't quit my job straight away, mainly because i couldn't afford to, so I started RE and bit by bit closed deals until I'd saved up a years salary and then jumped in full-time. 

Our neighbor's main duplex rents for even more - $600-$800 per night. 

Brandon Turner, one of the main contributors to this website, always talks about how his first property was a duplex that he lived in, and I personally think that's a great way to introduce oneself to real estate. 

Any private lenders in Maine?

Looking at cash on cash, IRR, value to be added, sub-market opportunity and trends, tax advantages, etc are all important factors. 

Hoping to meet some like minded individuals that can help me understand what I am planning to get into, I want to start young and utilize my main benefit which is time. 

For the 1031x thoughts you need to talk to your accountant; main question is are your current properties in a 1031 that would make it easy.