There system has been helpful for someone with no prior experience in the process, from finding properties, lenders, insurance agents, CPA's, attorneys, etc.

Purchasing a “distressed” property and “repositioning” it requires significant capital for improvements, build outs, holding costs, maintenance.In looking for that “needle in a haystack” slam dunk great deal you’re competing with very knowledgable, greatly experienced investors with the cash to make no contingency offers and close in a few days.  

Have your notified your insurance agent/company that you are no longer living in the property and that it's under renovation?

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Couple questions for you, as I am an agent and aspiring investor.

I have spoken with a couple real estate agents and they are scared to let me have the agreement thinking they are breaking some kind of code of ethics letting me have it.

Any tips on finding an agent? 

Real estate agents, property managers, and contractors who specialize in your target market can save you time and money in the long run.

There are some very aggressive investors that refi into interest only products to free up even more cash in the short term - this can be much more risky though, so not recommended if you are not very experienced and have large reserves.

@Matt Schreiber you won't find any Class A or B properties that cashflow - whether SFR or MFR.Price & interest rate increases have made it very difficult - unless you find something off-market BEFORE an agent or wholesaler finds it.