I’ve read and absorbed a book on RE bookkeeping written by John Hyre, CPA and attorney.

@Rafael Uriarte BP is the best place to learn and absorbs information!!

My goal is to transition into the principal side of investing as quickly as possible and do something similar to you with out of state investing.Frankly, it feels like I’ve absorbed a ton of knowledge yet I’m still missing the guidance/mentorship to take that first leap of faith.

Go to local gatherings, make connections with seasoned developers, and absorb their knowledge with a sponge.

The answers are really eye opening and it's quite a bit to absorb.

I am here to absorb anything real estate that I couldn't learn in my hometown nor college.

The pad will absorb noise.

Higher rents may be able to absorb more costs when they do come.  

Because I'm in the beginning (reading/absorbing everything phase), I haven't decided which would be best for me in terms of rehabbing vs. investing via rental property income.

That doesn't pay monthly but absorbs 100% of your debt and uses all cash flow to pay off the institutional debt on the property.