I am thinking of converting it now to CG and doing a built to Suit after maximizing plan with an architect given setbacks, etc. 

If I want to scale my portfolio, traditional 20% down mortgages aren't going to be possible because of the property value here, so wanted to see what other popular methods are possible.2) How can a rookie investor get comfortable with buying out-of-state? 

But I would argue buying with a lower down payment to try to get ahead of inflation and hoping revenues stay at 2021 levels or continue to rise isn’t sound investing.Now if you run numbers based on 2019 revenue projections and can still comfortably cash flow with a lower down payment.

If you plan to OMI and maximize return, you may still not get much cash flow, if any, given the asking price.  

And look for it to cashflow.And they say don't use your own money so that you can maximize your cash on cash return and have money left over for any extra renovations or expenses that you did not expect. 

That being said, we set aside these expenses until we reach a comfortable reserve and anything above that gets released for reinvestment.

Freedom of time and being able to count on my assets to provide me and my family adequate income to live comfortably.  

My issue is I don’t yet have an LLC/business and, I’m not feeling comfortable rushing that process.I appreciate your input!

If you don't feel comfortable with it, get more education until you do.What I saw as needing further eval: aluminum windows, roof, siding, brush/trees touching house (these help pests travel), cadet heater in kitchen, floors, pipes look galvanized (but closer inspection needed), cabs are old but not necessarily worthless.

You'll find comfort for your soul and make personal connections with people who really care.