To me, it was a huge learning lesson when I made that mistake.

Take it all for what it’s worth, I’ve learned plenty of lessons and made my share of mistakes.

A common mistake in my area is to ignore Hotel Occupancy Tax.

ARV and Rehab costs are where BRRRR investors tend to make mistakes the most.

I Refused the monthly, he offered $ 75 fee to prepare for the program and I did that realized it was a mistake from his reviews and called back the next day and they would not refund me.

A PMC is the ONLY one that will deal daily with your property.Here's some copy & paste advice on hwo to screen PMCs:Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Once you’ve made all of the rookie mistakes and have your SOPs in order, you can go invest out of state with a game plan.

That's how you gain the information you need to AVOID MISTAKES. 

@Rafael Valdor some advice when screening PMCs-----------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Even if you rent the house for $2,000 a month, you will still lose because of maintenance, vacancies, and the expensive mistakes common with newer investors.You can borrow up to 70% of the equity.