Start defining your criteria..location, type of property, price, etc.

Do you have your asset type and price point defined.

Unit number should just be a component of your "equation" while you crunch.Your personal comfort level of risk is important as well as how hands on you are with tenant issues. 

If you've never stood in a doorway and announced yourself as THE LANDLORD to a new tenant that doesn't know you, the reaction you'll get is memorable enough to be well beyond a simple business relationship, trust me.So rather than defining the LL-tenant relationship in business terms, I tend to think and talk about it in biological ones.

Income, whether it is "very good" or not, is a major component in calculating the return on investment.I bought a STR for $240,000 in 2005, that was only worth $200,000 in 2010 post crash, yet it was yielding $40,000 in rents annually. 

@Andrew DeLorenzo - Absentee Owners are defined as someone who has a separate primary address where their tax bill is sent.You are right that owning a second property isn't automatically a motivating factor, but so many people have been recommending them to investors for so many years...

I am currently in Marlboro, NJ.I would recommend you start by clearly defining your goals. 

So reading through the thread to precisely define the two issues:1.

Will definitely need an attorney to clarify that part - what defines a person who has 'interest' in the property?

Facts are not defined by one's belief.