I for one, appreciate (no pun intended) Iowa and all it has to offer.

No...a 1910 house will require more repairs than ever revealed from an inspection or walk-through. 

I got a job offer in the Northern Virginia area and I am planning to relocate there.

I understand the inherent difficulties and I appreciate the warnings some of you may offer, but I am specifically looking for anecdotal takes on past deals and attempted deals.

The deal hasn't performed up to projections and the GP has offered to pay me back my original capital plus 12 percent to buy me out of the deal.

Whether you are considering such an arrangement from either side of the equation, your feedback will be instrumental.Here’s What We’re Exploring:Homeowners/Investors: What are your thoughts on offering your property through a rent-to-own program?

This approach will cover your mortgage and still cash flow, especially as current interest rates, expected to decline, may not offer immediate cash flow year one for LTR's.

No point in hypothesizing if they can even purchase. 2) Offer them money to move out.

I have couple of questions from people who are well versed with this zip code and can offer valuable suggestions / recommendations, if any. - Is New Port Richey a nice area to invest  from a buy and hold perspective? 

So maybe start driving for dollars or walking for dollars in neighborhoods that would be good rentals or that you like. look for houses in distress or long grass or multifamily and call the owners and see if they want to sell.