I'm biased, but I think you sound like you have a whole journey ahead of you, and turn-key to me is more attractive for older investors with large 401k's or annuity funds that are looking to move their money into cash producing assets, without any of the work. 

The fundamental value in David Green's book on long distance investing lies in the fact that not all markets are created equal for all purposes.You may do well to invest in Denver as efficiently as you can, and then plow some money into linear or hybrid markets throughout the country that gladly produce a near 1% Rent to Value ratio.

And good advice on the oily rags- the drying agent chemicals in wood finish oils produce an exothermic reaction (they give off heat).  

For example 61 of them in cleveland that has a strong rental market and could produce upwards of 14%cap rate? 

more $$, more competition as well.But like almost everything else, it's the 80/20 rule. 80% of the business are done by 20% of the top producers.

I would advise, if your goal is to generate passive income, to churn that income from your flips into cash flow producing properties, then rinse and repeat. 

I found 3 properties for sale in Lexington (2 4-plexes and a duplex) I'd love to own there, all rented out, producing nearly $4k positive cash flow per month.

The multi-family investor market has been flooded with owner/occupiers who see house hacking as a viable alternative/income producer.3.

I have been wondering about this for a long time, and as long as I am confident in the properties ability to produce positive cash flow, I don't see why not?  

Jones in these areas are also a lot less expensive than LA but could produce a great deal of streams of money.