I see the discount places as being advantageous due to the low cost of maintaining a license.

Low income properties and properties that are not well run or well maintained typically have higher vacancy rates and turnover costs.  

.), but you can turn the corner and you'll have beautiful, well-maintained brownstones.

Boulder and Louisville remain high in the price bracket and maintain a steady increase due to limited options for building.

The two biggest concern are time and maintaining the relationship (I would hate to cost him money from my mistakes).

While in the land trust, the property could be maintained and rented until the bank makes a move. 

There may be some expenses involved in maintaining your license and standing and perhaps some continued educational requirements , license renewal issues you will have to deal with but find out for sure.

I´ve seen some nice condo communities in Tampa offering these rates and the yields are low because of all the fancy amenities that have to be maintained by the HOA.

I have thought about staying in San Diego and buying a property in Florida where at least I have an intimate knowledge of the area, have plenty of friends who could refer me to good people to maintaining and managing my property.But right now, as I'm living in an apartment, and have never even bought my own home, the prospect of buying out of state is even more daunting.

I have done detailed SOWs on my flips and have maintained positive control of my costs.From your description of the property it sounds to me that you may be underestimating how much work needs to be done, in terms of cost.