Its important to know what the max rents will be so that you can cover your mortgage payment and hopefully also cash flow every month.

I agree with Erik, although their are some investors out there that will help fund the down payment/entry fees that you mention, they typically are friends and family that trust you and believe in you.

For example, the most important job of a property manager is securing reliable tenants—those who stay for many years, always pay rent on time, and take good care of the property.

I know I need to hold the security deposit in an escrow account.  

Currently, we are learning more about investing while we save enough capital for a down payment for our first rental property.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

or have you found various creative solutions to secure favorable terms?

Do you have enough equity to do a cash out refi and use that cash to put a down payment on another property?

You could request a price reduction or additional seller credits for the inconvenience and security risk.

The only negotiation with the tenant after the judgment is the payment plan for the money owed to you.