Since my whole reason for this deep dive into real estate accounting software was to get AWAY from quickbooks, that raises some red flags for me about the way the product handles accounting.

That was a serious red flag. 

If you're doing a HELOC for a downpayment that is essentially a red flag - 75k is a sizable downpayment as well.

I am particular on the state income tax rate, and if the state is a red state/landlord friendly.

I’ve since seen many red flags that things are not as they should be.

Quote from @George Red: I just don’t want to eat the unit turn costs.This is just my opinion.....but this fear of 'Unit Turn Cost' that a lot of landlords talk about is not good business in the long-term view.

@Greg Pond I certainly am no expert in purchasing a PM, but I do pick out red flags easy and with your numbers you provided on 40 doors, that means those 40 doors are renting for 200-250 per month roughly?

If they sound not professional, then obviously that's a red flag. 

Last thing I'd want to do is rush into a property, miss red flags, and end up getting in a bad situation.Is a rehab in a C class neighborhood (which is what it would likely be) a bad idea for my first property?

I had a terrible experience with them, mostly because I missed/ignored all the flashing red lights.