That being said, let me answer your question and give you a little background.

Today, thanks to biggerpockets I was able to make my own choice without the background noise and all for FREE.

You need to gain education through a place like Bigger Pockets so you learn what to how and how to do it.To become a Real Estate Licensed Agent, you need to complete your state’s required education, background check, finger printing and examinations.  

Since it sounds like you're just getting started, it is worth noting that there are a lot of great tools out there you can use to screen, but I would suggest a platform that helps with not only listing the property (publishing it to 10+ other major listing sites) but also comprehensive tenant screening which includes a nationwide criminal background check, credit check, eviction history check, and requires references for prior tenancy.

Hi Syed, it is a good idea to proceed with the full spectrum of screening (an option that lets you pull not only their credit score, but also a full breakdown of their credit history, and also includes a nationwide criminal background check, sex offender registry list, and eviction history check). 

That's why there are a ton of resources out there which can help you to turn away from PMs and towards being able to manage the rental properties yourself, with a certain level of automation brought to the process (ie. listing the property and publishing it to 10+ other major listing sites, comprehensive tenant screening applications which includes a nationwide criminal background check, credit check, eviction history check, and requires references for prior tenancy;  digital leases, payments/online rent collection, and automated maintenance tracking).

Reading through tips, stories and listening to BP podcast have been very energizing, and I'm now ready to get my feet wet with a first investment.A bit of background on myself: I'm an engineer by training, and have worked in consulting over the past 7 years.

References, background checks, and your gut feel can all go a long way.I don't know whether there's a min/max, but if you're doing a JV, everyone has to have an active role.

Someone is going to have to make those calls and they will charge in addition to the back ground check fees.

Do you have any background on the DDD and how things worked out with the investor(s) who purchased the building?