Yes, it can feel like "wasted" money on months where rent is auto-paid and there is no maintenance to be done, but when you get a bad tenant or two or when deferred maintenance finally catches up to you, they certainly earn their keep.At your scale, you might be able to get a bulk discount with a good PM, especially if you can show how well your current systems are working and how they'd be needed less than usual.

I’m looking at a similar strategy as you, starting with a small investment first — but I’m eyeing a larger investment in the future for sure. 

I am an investor in Tennessee and North Georgia, and have had my eye on NC for awhile now.  

Thanks for catching that, @Michael Baum!

I currently have 1 and I am looking for another but I feel like this plan can't catch up with how fast LA is appreciating.My question is in the title.

I do plan to hold it in an LLC, have good insurance and umbrella as well. 3) Older homes in PS - most of the homes in PS are built in the 40s-50s and for those that own them, do you constantly run into issues with major ticket items - plumbing, electrical, etc (things that are not visible to the naked eye).

After 4 pages of people with 5 posts saying it changed their lives I was ready to write it off but @Curt Smith is the real deal in my eyes. 

And don't look at downpayment assistance programs because they all have a catch.

Without some on the ground knowledge those really low prices in some of the neighborhoods can really play some tricks on those "out of state eyes."

If you've been living in the area for a while, you surely have a handyman, plumber, etc, and friends who can be your eyes.