When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

If it's in the restricted zone (within 31 miles of the coast or 62 miles from an international border, you have the choice between using a bank trust and paying the fees mentioned above or using a Mexican corporation and bearing the costs of establishing and maintaining  the corporation.

If you don’t establish the right foundation first, you’re just letting the numbers push you around instead of controlling the deal narrative.I actually built my own underwriting calculator to streamline the qualification process.

Purchase price: $690,000 Cash invested: $172,500 Took a gamble on a larger single family home in an up and coming master planned community.

Both @Nathan Gesner and @Lauren Stark have provided valuable insights on this.One potential path for you is to join an established team to gain experience.

Whichever method of lead generation you decide on, aim to establish and maintain a relationship with prospective sellers. 

While I believe I operated with many of these strategies and tactics EVENTUALLY, I spent a long time “spinning my wheels” early on when trying to negotiate before establishing a rapport.  

There is a gamble there that the second appraisal comes in at or below the first.

Eliminate debt, establish a budget, and save.

@Paul Lucenti  "I don’t believe there can be a bad asset - if something is lining your pocket and you are establishing equity, that really cannot be bad.