Be prepared to scale to multiple properties. one property will eat up your annual trip to memphis. dont think you can do remote asset management sitting from anaheim. also you can invest in inland empire with similiar numbers. i am not sure why you are not casting your net locally.

But for what ever due diligence issues was not able to close on the majority of them.Had my closing team run title on all the ones I had under contract they would have simply been over worked on things that would have not generated any revenue for anyone.Out of the 2000+ that I have closed less then 5 had title issues that prevented me from closing.Thus the key is to have excellent team around you and if you are new to the area or working with people you don't know make sure you understand what you are doing.As far as your last comment about being a wanna be investor check out the video bellow of a tour of my operation.http://coachingbypeter.com/the-new-office-empire

What size empire do you feel comfortable being responsible for?

The individual most likely admired but thousands in this forum built his empire off of generational wealth.

Anyhoo, my long term goal is to build a rental “empire” to pass down to my children and so on. 

The lessons you learn as you do that will be priceless to you.I, like you Daniel, am not out to build an empire. 

But what we know from a ton of experience and empirical data....any 15 CAP in Ohio will end up being 100% fake right after that first trashy tenant destroys your building and causes $8K in repairs which wipes out 2 years of your "15 CAP" ROI.

Some days I dread going into work but when I think about my investments, I realize that I'm working towards a very rewarding goal of building a real estate empire.

He has a substantial RE empire...

we'd like to slowly build a small empire of ownership of local businesses.i'm focusing on seller financing or SBA versus OPM... those options sound more feasible.i really don't want to crowdfund real estate, etc... i'd rather own my own businesses, flat out.we're ready to fail.... and also succeed :)thanks.