cash flow pays the bills (with your own money) appreciation and value add build wealth,  (appreciation is risky though) Your cash flow as I said is your own money coming back to you. 

Michael Noto Yes, I'm willing to walk away but only depending on how big the issue is, which, although it COULD be a little risky, considering the age of the HVAC, I think it should be fine.

Certainly you are right renovating from afar ads risk. I

Risky, but overall I feel it may be a better method over the long haul.

Also, this is VERY risky, so be cautious.

CDOs were a big part of the 2008 sub-prime crash and are kind of risky in my opinion.Thanks for your help.

It's more of a long term strategy but the risk is slightly mitigated through experience versus flipping.

,Jumping directly from local A/B to out of state C seems a bit risky.

Keeping the money in the stock market is a bit more risky than what I would want for him.  

Hope you are informed on the issue of proper licensing for a PM.If I may be so bold to say, stop counting how many units you own and making decisions which can be risky just to create a bigger portfolio.