There were many lessons learned in the process of my first investment.

In other words, two financing agreements "wrapped" together.But the goal here would be for the 2nd buyer to close all-cash (to skip the financing process), would that still work? 

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

I know from BP podcasts that mistakes are part of the process, but I want to avoid anything that could jeopardize my family’s financial stability.Despite these concerns, I’m ready to dive in!

Follow the lease and the laws in your state and start the eviction process.

@Michael Smythe Great processes Michael!

I like the sit and wait plan.. no sense burning cash on things that cant get processed now anyway.  

So choose wisely and good luck I like the passive nature myself of boat and RV storage.

Mark, I am in the process of completing a HELOC with Wells Fargo.

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.