Hi i'm relatively new to BP and was wondering if someone could provide some guidance as to what steps I should take before investing out of state. 

Has anyone designated a group of properties as a 'retirement' community with some sort of age qualifier or is there such a thing? 

Use a known brand and you can be relatively certain all the basics are covered (naturally, read your policy).

I first learned about real estate at the age of 9 years old from a childhood friend on mine father.

There is one big advantage of working with a seller who has their home listed with a flat fee MLS company and it relates to commissions. 

That helped clear up the lingering questions I had related to 1031 exchange.

I am new here and still relatively new to renting my house out, even though I've been doing it for about 7 years now.

I love reading everything related to personal finance and implementing it.

How much you reserve depends on age, condition, and a few other factors like 'Do I want to save the reserves because ill need them to replace items' or 'i save the reserves to make sure I'm profitable in the long run'.

Another thing to keep in mind is that the property is in pittsfield so not a booming city such as Boston obviously which is related to why the rents and purchase price is lower.One of my concern is that it is a low cash on cash return I believe for my current situation.