And as an LP, I can do 75% of my due diligence from my desktop computer, the rest is going to the properties themselves, going to sponsor meetings, talking with other investors etc, which is a ton of fun. good luck :)  

And the best way to start networking is here on BP and attending your local REIA meetings IMO.

If you’re going to finance through a bank the property has to meet spec.1.  

Find one that does NOT have high spend minimums and different pricing options to meet your needs.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

Section 8 guarantees part of the rent, which is great for income stability, but the building will have regular inspections to meet Housing Quality Standards (HQS).

You're likely better off attending your local REI meet-up to see if you can find an investor who has house-hacked or is currently house-hacking their primary home.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

If the owner does not meet that residency requirement, another human being must be identified as the local agent in charge.

I attend seminars, and real estate meet ups, as well as work with my local housing authority to keep up with the local tenant landlord laws. 3) We did all of our own maintenance.