Starting a Rental across the U.S. HELP

[Steven McCaffrey]

Hello, 

Let's get to business, I'm a young driven individual who's father moved outside the US and has a property in Las Vegas. I asked my father if I could fix up the house and rent it out so he doesn't have to pay a mortgage and in return I gain any profits including being the landlord and the point-of-contact. If this goes well my father will transfer the house in my name which he still owes roughly 80% of the selling price. I understand this is a great opportunity for me to start my passion in the real-estate market. I'm also excited about the property since Las Vegas is getting two professional teams and the stadiums are about (5-10 miles away). Anyways, the only thing I'm nervous is about being on the other side of the map. Being my first property, I want to be as engaged as possible in the process for the learning aspect and not spend money on someone to do so. Any feedback on managing properties far from your current residence and just great tips for a young(23) year old to consider with this opportunity. 

Thank you, 

[Eric Taylor]

Allocate 7-10% of your rental income to property management in your budget/analysis.