Thanks for the reply @Aaron Osgood.She isn't picking finishes although I have been running some items by her for her opinion since she's involved in that market. 

If the investor is passive and not involved in the day to day, then you are still selling securities.

They seem very friendly.The potential lease involves a recreational marijuana dispensary; which is legal in our state and okayed by the bank.

On the other hand the further out you go, the less likely is your property to appreciate and the less likely is your rent to rise and harder to rent.I personally like to invest close to where i live and where i work because i know those areas pretty well and i don't want to be driving 2 hours to check on the properties.It also depends how much you want to be involved.

As @Braden Smith said, speak to an attorney (specifically, a Real Estate attorney who is not involved in the transaction in any way).

I assume they tell me to get a contractor to add a meter (looks easy) and run independent sewer outflows from each house (might involve an act of Congress)?

If the home has a loan on it, there is a creditor involved, and as I stated, no one is doing anything with the home that has a loan on it with a creditor until the trustee says so. 

This involves:1 - Breaking away from a home owner mentality with regards to money and investing.2 - Using "$$$" for analysis, and eliminate almost all use of "%%".3 - Learning, and following, the 2 Golden Rules of REI...to be succesfull4 - Understanding the meaning of this number sequence, 1073741824, and how it applies to REI...that's the start.

The bulk of his time is being involved in construction for many years who has been both as a manager and an owner but also a little bit of real estate.If I had to invest out of state and to hold my travel expenses down I would seriously go with an experienced Turnkey Company or invest into real estate with a man like Grant Cardone.  

My goals involve building long-term wealth through buying and holding rental properties, however, my largest barrier to entry is obtaining down payment a such a hot market.Since graduating in 2016, I have been working as a digital marketing consultant and paying $850/mo in rent living with 3 others.