If your looking to learn the trade and want to find a mentor to guide you, the I would suggest visiting one of the local REI clubs in Spokane or Couer D'Alene.

Since I am familiar with stocks and exchange-traded funds (ETFs) already, I thought why not give it a shot and see what is in for me in this industry?

The trades are lined up but we're responsible for the dumpster, temporary fence, and portable john.

Do I really want to learn this trade?

I also have experience managing remodels, contractors, subs etc and have even taken some community college trades courses (framing etc) so I have some basic trades knowledge.

I looks like the former, based on the following definition --"The term placed in service means the time that property is first placed by the taxpayer in a condition or state of readiness and availability for a specifically assigned function, whether for use in a trade or business, for the production of income, in a tax-exempt activity, or in a personal activity."

@Edward Schenkel Can I accept Bitcoins in the purchase & sale of a $200,000 property?

The prospects for appreciation are limited (probably below the inflation rate), your tenant pool sucks to manage from out of state, your risk is high because you don't know what the heck you're doing - none of us did on the first go; that's not personal - and your flippant verbiage is treating this more like trading stocks than buying property. 

Gain a lot of experience in learning about the trades and working with contractors. 

Also, they have access to a tremendous amount of information and connections to those trades that we all need more access to. you may also ask where are the regulations stated in writing, then you will have the ability to answer further question you may have regarding these matters