I need to understand how much this would impact the ARV before making a decision.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

You'll want to ask about their experience, read reviews, understand their availability, pricing, insurance / bonding, and how they safeguard their funds. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

This is my understanding so far: I’ll need an internal document agreeing to the formation of the series (anyone have an example of the wording to use?)

I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

Understand what's in the deed before closing.

.✅ Understand eviction costs and legal processes in case of tenant issues.5.

You should contact both your lender and your title company to understand their requirements.

If you want to operate from a place of logic you need to understand REI requires money.