SECOND - In the same vein, newbies ask which programs they can use to manage their listing.

My wife and I are real estate investors based in Katy, and I/we are looking to connect with local investors, real estate agents, property managers, and contractors in the area.

Unfortunately, not many around like that...The appraisal is about $150-$200 higher than standard cost because they likely went through an appraisal management company ("AMC") to get the appraisal ordered/assigned.

Your experience reminds me to manage the portfolio well (i.e. sell losers) and to be patient. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Before we sold it we hired a management company to reduce the burden, but even then we decided to sell and walk away. 

I already pay a management fee, then they mark up work?

My property manager will use their own collection agency to try to get all back-pay.

Hi! What are the best resources / tools to get connected/educated on this type of asset?

Quality tenants and quality management are key parts of your success.