I would stick to a more turnkey deal on the first one out of state then look at doing something like an Air bnb on the second or third deal. 

I can tell you I am often cautioning new investors to the incredible risks they are taking and try to help them understand it is not all as rosy as those seling courses or you tube videos claim.A lot of people have made money in the last several years not because they are smart but because they were the beneficiary of an unprecedented increase in prices and rents. 

Double-tapped breakers, all dishwashers did not function at all, multiple sinks and faucets actively leaked, Improperly installed flooring that had buckled, very high humidity in one units was causing moisture damage, furnaces full of drywall dust, radon systems that were not air-tight in the sump pit, and the list goes on and on.I listed just a few of what would ultimately be the longest repair request I've drafted in my career.  

Small city tenants are a breath of fresh air.

I try and stay ahead of the game on PMs I change air filters and get furnace serviced I replace shut off valves and add them where needed.

I would have actually keep the property and corporate leased or air bnb each unit.

No money will be exchanged, just my 2 lots for their 1 lot.Plans for the property I'll be receiving are still up in the air.

300 or 400 would be ok for a smaller house.You can provide You Tube TV for cable and local channels so you don't look too cheap.

You may have been an indoor employee with air conditioning and a comfortable chair, but sometimes the only work available is being a rough neck in the oil field or some other unpleasant type of hard work. 

It becomes like breathing air you just know how to do it optimally without thinking about it.I have seen syndicators take on loan assumptions with marginal terms and high fees or they used floating debt just to massage the numbers so they could hit a certain projected pref (hopefully) to the investors to entice investment of capital.