We’re interested in “off market” deals for instance.

Ok, I know there are instances where the ARM would be higher...but about 85% of the time the ARM is slightly lower.  

For instance, if you have never lived in such a neighborhood, if you have never had friends/classmates/co-workers that you were close to who were from such neighborhoods, then you probably don't have the experience necessary to invest in such neighborhoods.You must know yourself well enough and be honest enough to know that you can feel comfortable interacting with the people who will be turning your investments into money. 

There are some situations where a PM may not make sense, for instance if you are renting a room out in your house or the ADU (casita, pool house, bungalow) in your back yard.

Find ways to provide value to them, expect nothing in return and sooner or later, the concept of reciprocity will kick in and they will feel a need to help you.For instance, I got up to about 7 units all by myself in one year without any mentor.

Online it says "In some instances corporations and certain other legal entities must be represented by an attorney" not sure what those certain entities are...

For instance, do I get an appraisal independently or go through the bank?  

For instance, I can invest in midwest or southern states.

You can insure for loss of rent on your insurance policy, but there is usually a time or dollar limit on that & we have known of many instances where the work was not completed before the loss of rent coverage ran out. 

We would hear of folks from the WSL for instance and quietly place them when we had a vacancy/opportunity.