With 40K and living in NYC(this is almost exactly how much I had when I started and where I lived), if you are looking to build cash flow, then I would recommend finding a location near NYC (within 2/3 hours driving distance) and do a buy and hold. 

Purchase price: $475,000Purchased an up down duplex within walking distance of Texas Christian University.

I've been weighing the pros and cons of the distance between properties, but you're right, even a little bit of distance eats up a lot lot of time going back and forth.I'll start work on learning about nearby areas and definitely look into the local groups.

Are y’all focusing on this market for BRRRR or are you investing long distance?

Lot of people are going to work from home and drive to these vacation rentals where they can connect with nature, have fun while maintaining social distance.

During this pandemic and social distancing, my hope is to truly grasp REI as much as possible to start the process of purchasing my first property at the end of this year/early 2021!

Thin out and "social distance"

I had tried to get him to budge towards 6% but since he was taking a risk on a stranger (I am long distance investing) he was set on 8% at 15 yrs.  

This, I believe is the most crucial part.To invest long distance, you need a team that you would trust with anything.

I got started with David Greene’s Long Distance Real Estate Investing book and his BRRRR book