Learning the trade has a learning curve in itself.

Lastly, seek out any trade Associations for Landlords.

Hi Michael, welcome to MA, I feel like Denver and Boston are always trading people back and forth :) My best friend moved to Denver and from what I hear your Market is just a nuts as it is here and prices aren't all that off so I think you will still feel right at home. :)As mentioned you can pretty much take Wayland, Newton and Weston off your list for that price point (those are extremely expensive markets).

There are two publicly traded REITS I know about that do this Farmland Partners (FPI) and Gladstone Land (LAND).In addition I hear pitches all the time about buying coffee, cacao, and other agriculture products in South /Central America.So I'm curious how you would differentiate yourself from them.I was a bit disappointed to see you say 'high total risk rated returns'.

Does anyone have any advice, either from experience or general trade knowledge, on lenders they've worked with in the area, or if this is even a good idea? 

I am a electrician that would be willing to trade my services For equity In a propertyI have over 34yr I have flipped 10 homes for others getting started to move forward for my self

Personally, I wouldn't trade peace within the family for a few bucks.Good luck.

Consequently, my partner and I started investing out of state. 

Are there penalties/consequences?

I know in our market were just the building permits per house/ unit run 40 to 60k each..  5k to me just is trying to lock in the buyer so the buyer has some skin and just does not tie something up with no consequences if they back out..