If you are going to invest out of state for your first deal, you might as well invest in sure stock tips.  

We can also understand a div stock will not need a roof or have any ongoing turnover costs, vacancies, evictions, vandalism, code violations, insurance claims, sewer lines, landscaping blah, blah blah.Fortunately we can compare 5 years div stocks to 5 years random sfr returns and your friends blog conclusions are not debatable.

In my previous life, I was a biotech researcher.

no such thing as late to real estate investingAs with just about anything in life those who are determined and work at it on a daily basis and the farther ahead than 99% of the crowd who says they want to do things

@Jake SalibaYou are right, at this point of my life, because of the little amount of money I bring to the table on a monthly basis, purchasing a multifamily might not be the best plan of action.

I understand one way is utilizing depreciation to lower my active income's taxes, but when are people pulling out salaries to utilize in their non real estate life.  

The short answer is no,don't do it.You don't seem to be in the right mindset to become a member of my profession which is exactly what it is,a profession and not a hobby to pick up or put away at will.My profession requires lots of time devoted to learning both in and out of the classroom for at least 6 months to earn a license and the follow up sales training at the brokerage.It is not cheap either to get started with all the fees involved.From what you are describing about your personal life,family demands,and interests desired to pursue,I would concentrate on learning about investing in your spare time.Learn how to evaluate property for potential profits after repairs are done.Join an investment club and surround yourself with successful people who have already been through the process.Learn about hard money,gap funding,and what it takes to get the money you need when you need it.

You can easily see a 100 year old house with a fresh roof, windows & hvac and you can see a 50s house with all of them towards the end of their useful life.  

I also have sewer & water line insurance provided by DEP via American Water Resources (AWR) but every time I call them, they say there has to be a clog and all they will take care of will be fixing the clog.

If it is to be used as "residential" real estate then the life over which you depreciate it is 27.5 years.