I may have to consider out of state options given my constraint.

Investment Info:

fix & flip investment in Great Falls.

Purchase price: $6,000

Cash invested: $6,500

Sale price: $15,000

5 acres (vacant land)

Sold with owner financing, trust endenture, $10...

I own them both and am going to read them shortly, once I get done with the Long Distance Real Estate Investing book :)

Location is Santa Barbara Ca, walking distance to the historic Old Mission and a 2-5 minute drive to State Street.

I wouldn't consider long distance investing here without a solid partner in town.

Arguably if you are investing at a distance, your most important team member will be your PM.

Daniel:If you are a newbie, I'd try to avoid big rehab projects, particularly long-distance ones.  

Well first off it's within walking distance of a college campus, making it desirable to students.

Flexibility and the ability to manage your own schedule are important to us. then I agree with @Jay Hinrichs, 1031 into a large multifam if you canbe aware of the time constraints, though, along with all the rules and their implicationsedit to add- or a NNN deal with cashflow would be appropriate too

I would read books on long-distance investing and property management and ask questions here on BP until I found a solution, or a series of solutions.