Verifying last 2 years of rental history very important!

One key lesson was the importance of precise budgeting and renovation timelines.

If you’re not local to your property, what are the most important things you need from a local manager?

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

This all depends on what you buy, and more important, how you buy it,...and I'm not saying put more money down. 

And most importantly!  

Hey Ursula, I don't think breaking down the cost is more important than detailing the SOW(scope of work).

You definitely should network with them.Relationships are very important in this environment.

So I would really focus year by year and see you're making tangible progress, but more importantly no moving backwards.

It can happen financial freedom but its a long game and its a business like any other you need Know how but more important to know how you need the three CsCapital  Capacity and Character  and maybe a 4th one Credit. it all have to be there to really get going.