It is my understanding that the 5 day notice is not sufficient by certified mail if the tenant never signs for it.

The process can vary greatly so it's important to understand it and ensure it works for you.

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

A strong local presence ensures that your property is being handled by someone who understands market trends, tenant expectations, and the best vendors to work with.Beyond just managing your property, your PM team should also be aligned with your investment goals and able to help you strategize for long-term growth.

You need to up your standards or life as a Landlord will be very difficult.One violation and I would evict.

It's my understanding it's now similar to if it was a mortgage foreclosure.

I understand the pros and cons of both so no real immediate preference.

I'm trying to understand how they collect data so as to develop the best comping practices.

Fortunately I have all the standard contingencies.I also question what is a fair price for insurance.  

Folks just need to understand things never stay the same..