There are only so many buyers, and crossing state lines to sell carries extra risk.

In that case, it's a judgment call but you still need to mitigate your risk.

I'm about to close on a house at camp lejuene and I want to factor in the risk. 

What’s your risk tolerance.

Therefore any property purchase should be able to generate a profit as an LTR otherwise the risk seems too high.  

James Hammett An individual can buy them but I would advise against it as if the borrower were ever to sue you then you would be at risk not an LLC.

My thoughts are based on my experience Selling/Managing Residential Real Estate and my research/observations into the field of Real Estate Investing.If you are interested in Real Estate Investing I would suggest you research the different types of Real Estate Investment types and find the type that matches your budget, experience, goals, risk tolerance and energy requirements (among other self selected criteria).

I think by giving yourself an option you are risking less in the long run. 

You will increase your odds of starting and succeeding by saving up the cash you need for a DB (and a reserve fund) before you even consider risking it all. 

I understand the difference between the Special vs General, so obviously general is preferred. but in order to get the deal, is that an acceptable risk?