so... after coming this far, i wouldn't do anything to stretch yourself. 

@Victoria C. it depends on the property.

I am pretty handy and I really enjoy it, so it was tempting to do a lot myself, but you quickly find out that you can only do low-quality tasks such as junk removal, demo, painting, ob clean up. 

You would probably not hire yourself aka an agent with no experience.

Bigger Pockets is a great place to find a real estate focused financial planner.A good financial planner can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges, financial planning and tax planning.I recommend finding a financial planner specializing in real estate taxation, business taxation, financial planning, and tax planning.Consider working with your financial planner remotely to expand your options.I would also recommend looking for a financial planner willing to work with you throughout the year.

In addition to the tax on your appreciation, you would also have to recapture any depreciation taken on the property since you've owned it if you do not do a 1031.

I would guess it takes a year to do your first deal.

where do you see the return coming from?

With a handful of exceptions (extremely expensive markets, knowing you're going to move shortly in a market that won't cash flow, circa 2006, etc.) it makes more sense to buy if you are financially capable of doing so as you point out.

The distressed houses will be 250k+, I don't know for sure but I did look at setting up a network in Salt Lake City a few years back and I remember the price to play being very high and it was a competitive/active market with a ton of cash transactions.The minor leagues to this REI thing is:1) Get yourself ready by opening an LLC.