To increase profitability, we brought on three more team members and shifted our focus entirely to outbound lead acquisition, pausing inbound lead generation.While we’ve had success with door-knocking, I’m unsure if we can rely on it alone to scale our business to the next level.

I think your approach is probably a good one for the adult child. 

Back in the day, all these tenant's of such were just "known", and followed, because we never had the internet to rely upon.

Finally, at the end of the day, you really can't rely on the seller's financials for anything meaningful.  

Conversely, I’ve seen property managers who excel in all these areas, and the difference they make is night and day.As a multifamily investor who rely heavily on PM, and who has been burnt by dubious PM, @Stephanie Michael response above reflect perfect my view of what makes a good PM.

Properties within driving distance offer several advantages:Hands-on management: You can personally handle issues like maintenance, repairs, and tenant interactions, which is invaluable when you're learning the ins and outs of rental management.Cost efficiency: Without needing to rely on a property manager from the start, you’ll save on fees.Faster response time: Being local means you're close enough to address emergencies or inspect the property as needed.Starting with a nearby property often leads to a smoother learning experience.

I advise clients not to solely rely on AirDNA data for performance analysis as there can be some variation based on amenities such as hot tubs, premium decor and design and general operational excellence. 

If you're investing out-of-state, you should have your core team that you can rely on to answer these questions before making any offers.

You could still explore mid-term or short-term rentals on one property to increase income without relying solely on it, balancing stability with potential upside. 

So that I find out doing my own calls to find out why the offers was denied even was just so close from asking price and Im willing to go with second offer, I found out that the place has reserve litigation issue and my agent who I rely on and keep emphasizing how we need to work smart dropped the ball again on me and didn't due enough diligence even he claims he knows how to do property searches etc etc which made me feel its an extra that he has, it was very sample to just ask the listing agent so not to waste my time neither his sending unnecessary contracts...