Do the basics (ie don't start moving walls).

There is a reason that most states (including Connecticut) require property managers to be licensed, one of which is that they are required to have basic education on the rules and laws governing the practice.

Basic plumbing, electrical, HVAC knowledge will go a long way.

So basically, whatever new investment you get would need to make up for the now -3% return on your remaining 200k in equity.

He's basically wholesaling you a deal for an $18,000 fee.

So being conservative we would say you gain $46k in equity ($1.15m times 4%) plus cash flow (which I would argue is basically nothing after vacancy, repairs, capex) plus principle portion of debt pay down (you’ll have to look at your statements and figure this out).

This is basically an unsecured personal loan, like a credit card.

I didn't find any challenge finding quality tenants by posting on FB marketplace, roomster, roomies, basically all of the websites. 

But Banks only fund the very well qualified generally no way a beginner is getting bank financing unless your basically borrowing your own money. 5.

Basically, there's no free lunch when it comes to taxes.Depreciating property lowers your tax basis.