We usually waive the fee but decided to enforce it since it had 2 months in a row... but thanks for bringing up that point, definately something to consider

You can also stay at your current job and devote your time away from your job to learning all about real-estate investing and define what your strategy will be.

Definately feel that way about realtor.com...

I know that is a super broad question but right now I am leaning towards renting locally and investing 1-2 hours away.

That $/sf may not be all that surprising in some of the larger, more popular coastal cities (NYC, SF, etc.) but in a city where $100 - $200 / sf can get you a property in a top neighborhood (Meridian Hills, Broad Ripple and others), that is quite a sale.Downtown Indianapolis Condo goes for $4.8 MM in Possible Record Sale

It's supposed to be all defined upfront in the contract,  so there's no possibility of something like this happening .  

Thanks for the link Mark I definently check that. 

Some arguments around how to define "total loss".  

I define a good tenant as someone who: Pays all of the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for multiple yearsGood tenants are not the norm.

I would also make sure you define what stays behind after they leave.